The legal and financial agreement to deliver the £240m Watford Health Campus project has been agreed between Kier Property and Watford Health Campus partners (Watford Borough Council, West Hertfordshire NHS Trust).
The agreement will see Watford Health Campus and Kier work together to deliver the 375,000 sqft mixed-used development.
The Health Campus project, will improve, decontaminate and regenerate land around the Watford General Hospital delivering up to 650 new homes, a new multi-storey car park and create 1,600 local jobs.
Nigel Turner, Managing Director at Kier Property, said: "We are delighted to officially mark the start of our long-term relationship with Watford and our commitment to the delivery of Watford Health Campus.
"Over the past few months we have built strong working relationships with both the council and the Trust and we are confident that our combined efforts will deliver a first class scheme for Watford."
During the first phase a link road will be created to the hospital site, which will help reduce congestion and allow better access. It will also provide the opportunity to develop new hospital facilities for Watford and south-west Hertfordshire, along with offices and retail units.
Dorothy Thornhill MBE, Elected Mayor of Watford said: 'We are all fully committed to making the Health Campus the best it can be for
Watford. This is about regenerating a 29 hectare site, much of which currently sits derelict, to provide our town with new hospital facilities, some 1600 local jobs, much needed new homes and more open and accessible green, public space. Now that we have the joint venture in place we can really push ahead with creating a masterplan for the Campus that will deliver what is needed.