Leeds regeneration 2026: City Fund, Elland Road, South Bank New Town, and Temple Works all progressing

Leeds City Council has confirmed that five nationally significant Leeds regeneration 2026 projects are moving into delivery this year, backed by a vision to generate £20bn in economic growth and create 100,000 new jobs. A report presented to the council’s executive board today sets out progress on each scheme and seeks endorsement for the next steps needed to bring them forward.

Central to the delivery plan is a proposed Mayoral Development Zone, which would bring the council, West Yorkshire Combined Authority, and Homes England together under a single structure to oversee delivery across the city’s major regeneration areas, including the proposed South Bank New Town. An advisory board of regeneration and development experts would support the zone.

The Five Projects.

Leeds City Fund

Announced in the Autumn Budget, this scheme allows Leeds to retain 100% of business rates growth in a designated part of South Bank for 25 years. The fund is on track for government sign-off this spring and will allow the council to borrow against future growth to invest in infrastructure that unlocks further development. The council would usually retain 50% of business rates — this doubles it for the designated area.

Royal Armouries Tiltyard

A pilot City Fund project delivering a major upgrade to conferencing and visitor capacity at the Royal Armouries. The council estimates the project could generate over £700m in GVA over its lifetime, support 400-plus jobs, and attract 300,000 additional visitors a year.

Elland Road Regeneration

A refreshed planning statement sets out a multi-billion-pound development opportunity around Elland Road, including around 2,000 new homes and new leisure, education, commercial, and public realm. The council is working with Lowy Family Group, an experienced international property developer, on the wider opportunity beyond the recently approved stadium expansion.

South Bank New Town

Leeds South Bank is one of 12 locations shortlisted for the government’s national New Town Programme, which aims to deliver at least 300,000 homes. The council is working with government on the opportunity, which is a national priority and flagship programme.

Temple Works

Working with Homes England, the council is preparing to unlock the Grade I listed Temple Works and surrounding area. The project is expected to deliver over 3,000 homes, more than 100,000 sq ft of commercial space, and potentially a new British Library North.

Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said:

“In Leeds we have a major series of growth opportunities that together to form one of the most ambitious transformation pipelines anywhere in the UK.

“This year we are ready and prepped to shift into delivery – we have our vision in place, backed by strong partnerships and the ambition to grow our city for the benefit of everyone.”

The executive board report was presented on the 11th March 2026 with a recommendation to endorse the approaches and support the work needed to progress delivery across all five projects.

Why this matters for Leeds

This is the most significant package of regeneration projects Leeds has advanced at the same time. The City Fund alone — retaining 100% of business rates growth for 25 years — creates a new infrastructure funding mechanism that could reshape South Bank. Elland Road, Temple Works, and the New Town programme each represent multi-billion-pound opportunities with direct implications for developers, investors, and the wider Leeds supply chain.