MAYDAY Saxonvale recently held an initial meeting with Somerset Council to discuss the future of the Frome site following recent developments in the project.

The Saxonvale site has been the subject of two competing proposals for its regeneration – one from the Bristol-based Acorn Property Group, the other from the locally-based Mayday Saxonvale.

Acorn Property Group’s decision to pull out of the Saxonvale project earlier this month has left the future of the development of the site hanging in the balance.

With this major change, it's now unclear how the redevelopment will move forward and what the immediate next steps will be.

Paul Oster, Mayday Saxonvale director, said: “We have had an initial positive meeting with Somerset Council. We look forward to continuing an open dialogue and moving forward with the sale of the Saxonvale site for our community.

“Community-led development at scale is relatively new, and therefore our aim is that through these discussions the council will fully appreciate the resilience of the model we are putting forward. Compared to a conventional developer, we are lower risk. With one project we have only one focus, one which is not leveraged and we have more diverse sources of funding available.

“Our aim is to transform Saxonvale as a mixed-use urban regeneration project in a way that puts Frome first at every stage. We are in it for the long term. The future impact on Frome is central to all our thinking, and our plan will enhance the future resilience of Frome through community ownership.

“By retaining and reinvesting profits for the benefit of our town, we will generate social, economic, and community wealth to ensure Saxonvale contributes to the health and vitality of Frome and Somerset.”

Mayday Saxonvale will collaborate with Stories, a development company focused on social responsibility, to manage the redevelopment project. The Frome Area Community Land Trust (FACLT) will retain ownership of the site and the affordable homes permanently.

This Mayday Saxonale plan will deliver 263 homes – including at least 30 per cent affordable homes with a target of 50 per cent – plus 10,000sq m-plus of commercial and community space, new public spaces, a riverside park & playground, a hotel, and a lido.

The Frome Area Community Land Trust (FACLT) is looking for new board members and volunteers. For more information, visit their website: https://fromeareaclt.org/share-your-skills/