YORK’S “Teardrop” redevelopment is in line for a £2.5 million loan from the Leeds City Region.

The 72-hectare brownfield site behind the railway station - also known as York Central - is getting the cash for site assembly and site preparation from Leeds City Region Local Growth Fund. The loan is expected to be approved in late July. Next Thursday a City of York Council executive meeting will be asked to accept the money, as it hears an update on the project’s progress.

New commercial and financial advisors have been appointed for the project, with KPMG now set to work alongside property advisors Savills.

The council held a consultation on their plans for York Central, which now forms a major part of city’s newly redrafted Local Plan. Some 1,224 responses were made before it closed in February, and papers released ahead of next Thursday’s meeting say that 79 per cent supported the redevelopment and objectives, 59 per cent supported the vision of the site, but saving the Railway Institute’s buildings was a major concern for many.

Plans now include setting up a York Central Community Forum so people and businesses can stay involved.

Deputy council leader Keith Aspden said: “York Central is a game-changing development for our city so it’s crucial that we continue to work hand-in-hand with local residents and businesses to get the plans right.”