The Mayor of Leicester, Cllr Paul Westley, describes the forthcoming changes as a "major step forward in re-establishing Leicester's status as a vibrant and modern city."
So what kinds of developments will be coming our way exactly?
|"The city is undergoing one of the most extensive regeneration and investment programmes in the UK, with around £3 billion worth of investment."|
The most well known is the expansion of the Shires Shopping Centre and the addition of a new flagship store, John Lewis.
Overall, the development of the Shires West is costing £350 million, with the addition of 40 shops, eight flagship stores, and a restaurant and café quarter, which overall is to occupy a 10 hectare site between the existing Shires Shopping Centre and Vaughan Way.
The John Lewis store alone will be four stories high, and will cover around 220,000 square feet. It is described as the 'next generation' of John Lewis stores.
The expansion of the shopping centre will be easily accessible by both public and private transport, benefiting from the existing car park and new parking catering for 3,000 cars as well as an improvement in transport links.
The extended Shires will also be close to a new multiplex cinema and 120 new homes.
Other developments taking place, which are also due for completion in 2008, consist of a cultural quarter led by Leicester City Council, including the new Rafael Vinloy-designed £50 million Performing Arts Centre.
Many other new homes are also being built, including 1,700 being planned in the Lee Circle area of the city along with the redevelopment of the city's waterside quarter, also with new housing and leisure.
|Cranes working on the Shires West|
Leicester's universities are also undergoing developments, including the £250 million regeneration of De Montfort University's city campus.
£300 million is being invested to develop the University of Leicester, including a £75 million library expansion.
The regeneration of Leicester has meant that business is also rocketing in the city, with a new business quarter coming soon.
It will be situated adjacent to the train station and will provide businesses with over 300,000 square feet of office space, apartments, more retail space and restaurants.
According to 'Invest Leicestershire', the city is undergoing one of the most extensive regeneration and investment programmes in the UK, with around £3 billion worth of investment taking place over the next five years.