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The Welsh Government has committed funding towards the redevelopment of Pentrebane Street in Caerphilly town centre.
Caerphilly Council is planning to regenerate buildings there and build housing as part of the local authority’s masterplan for the town.
The street includes the former indoor market, which the council bought for £1.3 million in March 2023.
It has since laid out plans with housing association Linc Cymru to redevelop the street with up to 73 new apartments – a mix of social rent, market rent and sale.
The development could also include up to seven commercial units.
New Welsh Government documents show climate change minister Julie James approved grant funding from the Transforming Towns scheme for the Pentrebane Street project, on Monday March 11.
A government spokesperson was unable to comment further on the details of the funding.
The Local Democracy Reporting Service understands this is because negotiations around the project are ongoing.
The Pentrebane Street redevelopment is part of the wider Caerphilly 2035 transformation project, launched by the county council.
Other arms of the project include the new container-style market, which had been due to open on March 15 but is now slated to launch in April; as well as a new bus and railway interchange, which was granted planning permission in February.
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