The Cardiff Bay Development Corporation was set up in April 1987 to regenerate the 1,100 hectares of old derelict docklands of Cardiff and Penarth. It was part of the British government’s Urban Development Programme to regenerate particularly deprived and run-down areas of British inner cities.
The mission statement for the Regeneration Project was:
“To put Cardiff on the international map as a superlative maritime city, which will stand comparison with any such city in the world, thereby enhancing the image and economic well-being of Cardiff and Wales as a whole.”
While the then Secretary of State for Wales, Nicholas Edwards, set no deadlines for the life of the Development Corporation, he stated that its main objectives should be substantially completed within 10 years.
The five main aims and objectives identified for the Regeneration Project were:
- To promote development and provide a superb environment in which people will want to live, work and play.
- To reunite the city centre of Cardiff with its waterfront.
- To bring forward a mix of development, which would create a wide range of job opportunities and reflect the hopes and aspirations of the communities of the area.
- To achieve the highest standard of design and quality in all types of development and investment.
- To establish the area as a recognised centre of excellence and innovation in the field of urban regeneration.