Cambridge Council Proposes £92m Civic Quarter Redevelopment

Cambridge City Council is considering a £92.28 million investment in the Civic Quarter project, which focuses on redeveloping the Guildhall, Corn Exchange, and Market Square to improve climate efficiency, accessibility, and community spaces. The project aims to modernize the Grade II listed Guildhall to net-zero carbon standards and enhance the Corn Exchange with energy-saving measures like insulation and solar panels, while adding improved sound and audio-visual systems. Plans for the Market Square include a mix of permanent and demountable stalls to support daily trading and cultural events. Funding sources include a £23 million general fund reserve, £60.3 million in external borrowing, and £6 million from property sales. Four options are being considered, ranging from minimal compliance work to full redevelopment, with a final decision expected by September 2026 after planning applications and public feedback. Councillors are set to discuss the project further in meetings scheduled for September 2024.