The funds, which would be from the Scottish Government's Regeneration Capital Grant Fund, would be an important step for an ultimate investment of £20m in an area which runs from Grant Street to Academy Street, as well as including Glebe Street on the riverside.
The local authority has said the Merkinch Gateway project would better link the two areas situated on either side of the River Ness through specific building and street upgrades, plus business opportunities which have economic, social and environmental regeneration benefits.
Key proposals of the project include:
• Assisting in re-establishing community use and building improvements of Merkinch Welfare Hall
• Improvements to the Nelson Street/Grant St junction
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• Creating a community garden at India Street
• Introducing art works at the Waterloo Bridge
• Improvements to the junction of Chapel Street and Academy Street
• Redevelopment of a vacant site for hotel development at Glebe Street, with the Council assisting the developer with Phase 2 site investigations.
In addition, there are also plans to refurbish the buildings on Academy Street to create residential and retail accommodation, an art gallery and business starter units, as well as to transform a number of commercial premises by converting them into affordable housing.
Councillor Ian Brown, Leader of the City of Inverness Area Committee, said: "This is an ambitious and very welcome initiative to breathe new life into this distinctive part of the city centre. The funding will start the ball rolling and hopefully attract major investment from the private sector."
Council Leader Drew Hendry added that the project would assist with the authority's plans for a Carbon Clever Highlands.
He explained: "Multiple aspects of the proposed regeneration will lead to lower carbon emissions, and therefore contribute to the Council's vision of a Carbon Clever Highlands. Refurbishment of inner city buildings will lead to more energy efficient properties, whilst their locations are accessible by public transport reducing the need to travel by car.
"The proposed improvements to the streetscape of the area, will provide a better environment for walking and cycling in Merkinch. Converting commercial units into homes will put people into the city centre, near to shops and services and minimise the need to travel, enabling a low carbon lifestyle."
(JP/IT)
