Preston City Council will be meeting to make a decision on the plans to build an Aldi and a business hub at the former Cottam Brickworks site.
A number of planning applications have been submitted to the council over the years, with plans for a retail park that was neither approved or denied finally being scrapped.
BXB Cottam Properties, who are bringing 89 new homes to the site, are behind the new plans.
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If approved, it would see Cottam Brickworks transformed into a commercial hub, with an Aldi supermarket and a new business space.
It is believed almost 1000 new jobs could be created if plans go ahead.
Alongside the supermarket, there will be associated parking, servicing, access and landscaping.
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Approval is also being sought for the construction of a vehicular access road linking Tom Benson Way to Cottam Avenue to serve the commercial and residential area.
The scheme would be a huge investment in construction in the area and would create a significant number of jobs. It would also make connections on the local pedestrian network and potentially provide opportunity for improved bus services.
The scheme would also be expected to deliver a £1,059,683 in CIL payments to the city council to improve facilities in Preston if approved.
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It has been recommended that the scheme is approved at planning committee meeting on Tuesday 2 March, under the conditions that a Section 106 legal agreement is signed.
This would mean BXB Cottam Properties would be guaranteeing cash contributions to improve the neighbouring recycling centre as well as affordable housing, education, and management of on-site greenspace.
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