Peterborough's Station Quarter: what does £65m project involve?
Andrew Pakes, Labour MP for Peterborough, said securing funding for the project was one of his priorities, adding: "This project will bring jobs, investment and opportunities to the city."
The Conservative mayor of Cambridgeshire and Peterborough, Paul Bristow, said it was a "generational opportunity" for the city.
This is a multimillion-pound project involving a number of public and private bodies, and a bid for government funding.
An initial search for investors began in early 2020, after the city council, Cambridgeshire and Peterborough Combined Authority, Network Rail and LNER all joined forces.
In 2023, they put together an outline business case to secure the Levelling Up money, which was approved in March 2024.
A full business case for the project was finally approved in May 2025 – but the Treasury spending review in the summer will be the final hurdle before the money is available and work can begin.
That depends on what is announced in the next spending review, but the first phase of works are expected to begin in late autumn.
