The Future High Streets Fund is a £1bn scheme set up to help transform UK high streets. Last month 50 areas were originally chosen out of 300 and Portsmouth was not included. However, the government have decided to extend the scheme to an additional 50 successful applicants and now high streets on Commercial Road and Fratton Road could potentially receive £25m each. Portsmouth City Council will be given up to £150,000 for each area, to help create detailed project proposals which can be used to apply for capital funding.
Portsmouth City Council cabinet member for Culture and City Development & Deputy Leader Steve Pitt said, "This is excellent news and it gives us the opportunity to get some really detailed proposals together. We will be working alongside local businesses, landlords, community groups, transport companies and local people. It is also important to note, that this will be part of a wider plan to regenerate the city centre and support high streets across the city."