COUNCIL chiefs have kick-started an £8 million regeneration project set to unlock quality housing and boost retail in Torfaen – an investment which will shape the future of the borough.

The vibrant and viable places programme will seek to tackle poverty and create jobs while rejuvenating several areas of Pontypool and Cwmbran.

Around £4.6 million is be spent on a housing project in an area of Cwmbran near the Monmouthshire and Brecon Canal called Canalside.

The area surrounding the Cwmbran locks is to be improved through the provision of new infrastructure and the acquisition of land.

A further £1.4 million will help refurbish premises for residential, creative and commercial use in Commercial Street, Pontypool.

And another £1.5 million is to be allocated to bring empty properties into use and increase residential accommodation in Pontypool town centre.

A Torfaen cabinet report said the three-year project would act as a catalyst for a new approach to the regeneration in Pontypool.

The report states that the scheme would seek to consolidate retail as well as provide quality residential accommodation on the edge of town.

Torfaen cabinet has accepted an £8 million grant offer from the Welsh Government to get the project off the ground.

The cabinet also agreed to select members to sit on a vibrant and viable places liaison group.

Last month Torfaen council said the programme was designed to improve community facilities, tackle poverty and create jobs.

A spokesman said the funding could also be used to renovate landmark buildings.

A loan scheme is to be set to help landlords improve and refurbish rented accommodation.

The cabinet report on the £8 million scheme says: “The programme is highly complex and requires new approaches to the delivery of regeneration in Torfaen.

“It is likely that the scope of the projects could change further before being finalised.

“Nevertheless, if successful, the potential for transforming Torfaen’s economy remains significant.”