By Manish 
Leicester is going through tremendous changes with major development projects that are set to reshape its urban landscape in addition to its economic productivity. With continued development, the city must adapt to ever-shifting leisure habits and face the challenges and opportunities ahead.
Major Development Projects
Project Medius
Among the most distinguished schemes is Project Medius, a £55 million hybrid development comprising a 12-storey block of serviced apartments, hotels, and commercial office space. The project will rejuvenate a forgotten part of Leicester, building a new active heart around an interface between the city centre and the Waterside regeneration area. With the mix of public realm works, this will become a connected and accessible precinct that is appealing to residents and visitors alike.
Great Central Square
The Great Central Square development around the former Great Central Railway Station site has also been a massive development with two hotels and Grade A Office Space, making this site extremely attractive. The £52 million development opened in October 2019, which is part of a project that not only enhances an underutilized area but is also designed to drive economic growth, providing contemporary facilities for business and tourism.
Affordable Housing Solutions
Leicester’s growing population has prompted the development of various affordable housing projects aimed at meeting its housing needs. Thousands of new homes have been granted planning approval in areas such as Lutterworth East, where a mix of affordable housing and larger warehousing units are set to be built. These projects are focused on building sustainable communities that serve a diverse demographic and support local economic development.
Opportunities for Growth and Investment
Leicester’s strategic location within the East Midlands makes it great for investment all around. It has excellent transport links and several large employers in different fields, from logistics and manufacturing to technology. World-class universities that additionally support the innovation and research only add to its attractiveness.
The Leicester Waterside, considered one of the most notable of these projects, will develop high-tech facilities based on the know-how of the local universities. This is part of a wider movement in urban renewal that seeks to create spaces which are designed to explicitly facilitate interaction between businesses.
Challenges Ahead
Nevertheless, Leicester’s promising outlook is tied to the problems of urban planning and infrastructure. The trend towards internet-based entertainment has effects on traditional leisure businesses such as casinos. As many casinos have now moved online over the last few years, local authorities need to strike a balance between providing support for existing businesses and recognizing shifting consumer trends.
Furthermore, city planners are still focused on making sure that the newer developments are sustainable and inclusive. Over the next few years, Leicester will include and incorporate areas for greenery and community tools and/or infrastructure so that the quality of life for the residents of Leicester will always be optimum.
Conclusion
A series of transformation projects are taking place in Leicester that will help transform parts of the city towards a sustainable, efficient economy of the future. The city has substantially invested in mixed-use developments, affordable housing, and high-tech facilities to enable growth.
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Shantanu