Falmouth University announced as anchor tenant for Pydar development
26 April 2023
Falmouth University, Treveth Development and Cornwall Council have announced the completion of Heads of Terms for the University to become the anchor tenant at the £200m Pydar development in Truro.
This major step forward for Truro and the region will create a centre for collaboration, innovation, learning and creativity, all housed in a multi-generational neighbourhood that puts sustainability and wellbeing at its heart.
The Pydar development is a mixed-use project in the centre of Truro that will provide much-needed housing, leisure and green space, as well as improved health and biodiversity gains for the River City of Cornwall.
Falmouth University will be the main tenant in the development, occupying a purpose-built, state-of-the-art facility that will bring its creative energy and collaborative spirit to Truro, allow it to expand its impact for Cornwall and offer new opportunities for students, researchers, and the next generation of entrepreneurs and creators.
At Pydar we are blending learning, research, enterprise, leisure and living, to help regenerate Truro and address the future needs of Cornwall’s economy.
750 students and associated staff, researchers and business partners will be located at the new university campus. This innovative learning and living environment will help grow both a vibrant local community and Cornwall's wider economy. Activity at Pydar Street will be focused on Falmouth’s core specialisms of creativity and technology.
"We are delighted to be progressing our involvement on this exciting project," said Professor Emma Hunt, Vice-Chancellor and Chief Executive of Falmouth University. “At Pydar, totally aligned with the ambitions of Cornwall Council, we are blending learning, research, enterprise, leisure and living, to help regenerate Truro and to help address the future needs of Cornwall’s economy. Our activity will focus on Falmouth’s growing specialisms in creativity and technology, in fields that are flourishing in Cornwall and in disciplines that are adding value to sectors including heritage and tourism, healthcare and agri-tech.”
“Not only will our students, researchers and colleagues bring their economic and academic value to the city we envisage the facility and the resources within it as being open available to the local community for educational, entertainment and business uses.”
The Pydar development will be a multi-generational neighbourhood, with purpose-built accommodation for students, and 300+ high quality homes for local people including 35% affordable housing. The development will include 3.5 acres of public and green spaces, over 12,500sqm of food and beverage, hotel, and community space to create a year-round destination for entertainment and leisure. The project will be a model for sustainable development, with a focus on reducing carbon emissions and promoting sustainable lifestyles.
"Treveth Development is proud to be working with Falmouth University and Cornwall Council on this exciting project," said Tim Mulholland, Managing Director of Treveth Development. "The Pydar development will be a game-changer for Truro and the wider region, providing much-needed housing and excellent opportunities to improve our environment and local biodiversity. We look forward to working with our partners to make this project a success from day one."
This has been a journey for our residents and businesses as well as the City Council, Cornwall Council, and wider stakeholders. I couldn’t be happier with the announcement of this new partnership.
The Pydar development will also provide a boost to the local economy, creating new jobs and opportunities for local businesses. The project is expected to attract new investment to the region and help to position Truro as a hub for innovation and creativity.
"This is an exciting development for Truro and Cornwall as a whole," said Steven Webb, Mayor of Truro. "We are proud to be partnering with Falmouth University and Treveth Development on this project and look forward to seeing it come to fruition. This has been a journey for our residents and businesses as well as the City Council, Cornwall Council, and wider stakeholders. I couldn’t be happier with the announcement of this new partnership."
The completion of Heads of Terms marks a major milestone for the Pydar development and paves the way for the project to move forward. Falmouth University, Treveth Development, and Cornwall Council will now work together to finalise the details of the project and begin construction, pending approval of the Reserved Matters Application.