Cardiff cabinet to discuss Atlantic Wharf regeneration

An outline business case for the redevelopment of the site of Cardiff entertainment destination the Red Dragon Centre, as part of the wider regeneration of Atlantic Wharf will be considered by cabinet.The Atlantic Wharf regeneration scheme remains a Cardiff Council priority aimed at kick-starting the next phase of regeneration of Cardiff Bay.The council acquired the Red Dragon Centre in January 2020 to supplement its ownership of the existing County Hall site. This secured full control of a combined area of land in Cardiff Bay of approximately 30 acres.Since then, the authority has progressed proposals for the comprehensive redevelopment of the site anchored by the delivery of a new Indoor Arena. It is also supported by a new multi-storey car park to consolidate surface car parking across the site and to free up land for development.Now a Cardiff cabinet report is seeking authority to amend the car park strategy to fulfil the council’s obligations relating to the new Indoor Arena project and to support the regeneration of the wider Atlantic Wharf site.Cabinet will consider options for the improvement of pedestrian and cycling connections along Lloyd George Avenue to improve the connection between the city centre and Cardiff Bay.Last year, cabinet granted authority to undertake a further exercise to test the market for the redevelopment of the Red Dragon Centre site. As part of this process, cabinet also agreed to set aside a proportion of land of sufficient scale, to be agreed with the council’s Housing Department, to enable the delivery of around 500 residential units through the next phase of the council’s Partnering Scheme.In November 2023, cabinet approved the funding strategy for the delivery of the new Indoor Arena and the multi-storey car park which allowed the council and Live Nation to enter a Development Fund Agreement from 1 December 2023.