Treveth recently introduced a large collaborative development project in Truro. Through this initiative, 300 homes will be built, about two-thirds earmarked as affordable housing. The plans include a hotel, a number of new restaurants and a purpose-built studio for Falmouth University. At the start of 2021, Treveth obtained planning permission to demolish existing 1970s office buildings. Since then, the city and state have taken dramatic steps to cultivate a dynamic new neighborhood just west of the city center.
Adding momentum amid a mix of political challenges, Tim Mulholland, managing director of Treveth, verified that despite the recent shakeup, the project is still on track. The developer expects to finish the development in the next five years. Demolition work is already underway, with bulldozers already clearing out old buildings and mountains of rubble covering the site.
Treveth has now asked for a further £10 million from Cornwall Council. Increasing costs and new building code requirements caused the urgency of this request. The Grenfell Tower disaster The Building Safety Act came into being as a knee-jerk response to the tragedy at Grenfell Tower. This legislation is in no small part responsible for adding to the greater financial burdens of construction projects throughout the UK.
For me, the bottom line is to just kick it off – we know there’s demand for housing and that’s key. That’s the getting to the heart of creating a new neighbourhood and attracting more residents into the core of the city. Nothing has changed there,” Mulholland stated. And he underscored the importance of meeting housing demand in Truro, the main priority for this largely residential development.
Though market slowdowns have pushed construction back, Mulholland is encouraged by the level of interest from prospective operators for the planned hotel. “We’ve still got a lot of interest from hotels, so we’ll look at how we can incorporate the hotels in early. It’s kind of a game, or gamble, really with where the market is at today and what that demand is going to be,” he added. This flexibility is intended to allow development that is more responsive to existing market conditions and increases the project’s long-term competitiveness and attractiveness.
Together, Treveth is committed to developing purpose-built student accommodation for Falmouth University. This priority will improve the quality of life for local residents while invigorating the economy. A cafe situated on one side of the development offers a welcoming environment for visitors and residents alike, allowing them to enjoy drinks outdoors amid the ongoing transformation.
Whatever the new realities are, Treveth is moving full steam ahead with its ambitious plans. This company is committed to doing things right by rolling with the punches and creating a successful new downtown Truro.
