AN AMBITIOUS regeneration project to transform a prime Southampton brownfield site is set to start this year.

Inland Homes has received outline planning approval for the regeneration of Southampton’s former town depot site, known as Chapel Riverside.

Work to redevelop the 8.9-acre site on the River Itchen, close to the Itchen Bridge and Ocean Village, is expected to start in June and finish in 2022.

Inland’s proposals include 457 homes, marine-based employment and improved public access to the waterfront.

A new square boasting restaurants and shops will also be built.

Southampton City Council leader Simon Letts said: “We are now working with Inland Homes in two areas of the city, the Meridian Waterside site and the Chapel Riverside build.

“Developments such as these are integral to bringing waterfront areas back to life, offering improved access for residents, businesses and visitors.

“The developments are part of the Itchen Riverside Very Important Project (VIP) scheme, one of seven VIPs currently underway as part of our ambitious £3billion city centre transformation masterplan.”

Plans for the transformation of the site, which is valued at around £100 million, include 300 metres of river flood defences and a new underground surface water storage tank for Southern Water.

Archaeological investigations will also be made of the former Chapel of the Holy Trinity, dating from before 1217AD, as well as a medieval mill and Saxon burial ground.

Stephen Wicks, Inland Homes’ chief executive, said: “We are thrilled that our proposals met with the planners’ approval and are looking forward to building upon all the good work we are doing at our other Southampton site, Meridian Waterside.

“It will be very exciting to see this ambitious new project start to come out of the ground.”

Inland Homes is currently developing Meridian Waterside, a scheme of 351 new homes located on the site of the old Meridian TV Studios next to the River Itchen.

Both Chapel Riverside and Meridian Waterside have been designated VIP sites in Southampton as part of the wider Itchen Riverside project.

The depot was earmarked for the ‘snowdome’, a 150m indoor ski slope in January 2010.

The plans were scrapped when Labour took control of the city council in 2012, saying they wanted a development that also reflected its riverside location.