THE luck of East Cowes's regeneration could be changing as more details are unveiled about the town's potential future.

The Isle of Wight Council, working in partnership with the Island's MP Bob Seely, had been successful in securing £5.8 million to 'level up' the town as part of a government scheme.

Read the reaction to the news, including more from Mr Seely, here.

The regeneration of East Cowes has been on the cards for nearly 15 years with a range of schemes proposed — few built, though.

A ‘masterplan’ was approved in 2007, setting out a vision for the future to deliver houses, retail and employment opportunities as well as a 200-berth marina, but the development soon stalled due to the recession.

Red Funnel also has planning permission to redevelop its land, building a new terminal building, up to 100 residential properties and the potential for a 60-bed hotel but, apart from demolition, has yet to start.

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Mr Seely has since said he will encourage Red Funnel to move ahead 'as quickly as possible' with their projects.

Hong Kong developers also put forward plans to majorly transform the Venture Quay waterfront area and entrance to the Esplanade but withdrew its support in 2018.

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Since then East Cowes Town Council produced a neighbourhood plan in which 81 per cent of respondents did not think there was a need for more housing in the town.

They also supported the retention of the Classic Boat Museum to increase tourism.

Now, the public is being invited to share their thoughts on how the cash will be spent as the latest ideas are put forward.

Two scenarios are proposed by Savills in a ‘masterplan scoping study’ for the Isle of Wight Council, both allowing for a mix of new homes, including affordable properties and a 50 to 60-bed care home.

The first puts employment, incorporating a hub for marine-based jobs and innovation space in the northern part of the town and proposes visitor facilities around Trinity Wharf and Phoenix Yard, with a mix of employment and hotel space and more food and drink areas.

Isle of Wight County Press: The schemes proposed under the first scenario. Picture by Savills.The schemes proposed under the first scenario. Picture by Savills.

The second scenario adds training space and hostel accommodation in the northern area with the employment around Trinity Wharf and Phoenix Yard but with some flexibility still to allow for a hotel.

Isle of Wight County Press: The proposals under scenario two. Picture by Savills.The proposals under scenario two. Picture by Savills.

Other public realm improvements for the town and Esplanade are proposed, with the disused toilet block demolished and a new entrance to the Red Funnel marshalling yard.

Two events are taking place at the Columbine Building tomorrow (Friday) and Saturday, December 10 and 11, between 10am and 4pm, for residents to find out more.

To view the plans and fill in the online consultation you can visit: iwightinvest.com/east-cowes/east-cowes-waterfront-consultation-2021/

Mr Seely said he was delighted the Island now has progress on regeneration projects for East Cowes. 

He said: "The regeneration of the town has been high on my priority list and that of the Council, especially given the failings of the floating bridge in recent years.

"The Levelling Up money we successfully lobbied for will enable us to get started quickly on three projects for the town.

"I thank the Council’s team for their work. Let’s now get cracking and give East Cowes the future it deserves."