The framework has the potential to deliver clear benefits, including over 800 residential units, 20% of which will be affordable and social housing, and 1,700 jobs in the office, retail, leisure, restaurant and education sectors.
The Minister said: "The Northside has been neglected for too long. I want to change that and to create an environment where people can raise families and work in an area close to their roots."
Including the neighbourhoods of Browns Square, Carrick Hill and Press/Library Quarters, the North West Quarter Part Two area is important in regeneration terms as it connects the communities of Northwest Belfast to the city centre.
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Ms Ritchie said: "In taking forward the regeneration of this area we propose to promote it as the 'Belfast Northside Urban Village'. We believe that this conveys our vision to build on the historic character and rich community life of the area. The creation of a distinctive urban village holds the potential to improve the quality of life for those who live and work in the Northside."
In implementing the framework the Department for Social Development will aim to select, through open competition, a preferred developer partner or a consortium of developers with the right experience to deliver the new urban village.
The Department will take a positive lead to attract private investment by considering using its statutory comprehensive development powers to support proposals which are justifiable, viable within a relevant timescale, in the public interest and which obtain planning permission.
Minister Ritchie concluded: "The key to making the regeneration happen is to attract private investment into the area. This framework provides a comprehensive route map and guide for investors. In addition I intend to create an investment fund for the area to help lever private investment and will commit an initial £5.5million of public money to this fund."
(VB/JM)
