A government spokesman said the initiative would create jobs and deliver new homes, community facilities, shops and hotels in Laurieston, on the south bank of the Clyde.
He said it would “soon become a landmark”.
Alex Neil, Cabinet Secretary for Infrastructure and Capital Investment, said: “We are committed to helping local communities flourish, become stronger and safer places to live. This is a major milestone today, for Laurieston and Glasgow, and this investment will kick start the regeneration of the area over the next few years.
-- Advertisement --
One of the three pilot Transformational Regeneration Area (TRA) projects, it is financed by Glasgow City Council and the Scottish Government and developed by New Gorbals Housing Association.
201 ‘affordable homes’ will be provided in the first phase of construction.
The project is being delivered by Urban Union, a private sector consortium.
Janice Belshaw of Urban Union said: “Laurieston has a rich and eclectic history which will form a cornerstone for the new development, mixing this resilient heritage with high quality contemporary design to lay firm foundations for a new vibrant city-centre quarter.”
She said everyone involved was committed to listening to local people’s views on the development.
Bailie Liz Cameron of Glasgow City Council congratulated those involved in the “the birth of a very special era for this part of the city”.
(NE/GK)
