SOUTHEND United’s new stadium and hundreds of new homes around it is worth a staggering £500million to the town and could create more than 1,000 new jobs, it has been revealed.

The Echo last week revealed how the long-held plan for the new stadium, hotel and conference centre at Fossetts Farm is finally set to become reality after more than 14 years of setbacks.

The plan for 850 new homes for Southend Council are a game-changer for the plan and the multi-billionaire property tycoons, the Dellal family, are now linked with the huge new development.

Many suggest the plans now have huge weight behind them and now the long hoped for stadium, off Eastern Avenue, will finally be built.

Roots Hall – Blues’ current home - will also be redeveloped into 502 new homes for rent - also under an agreement with the council - once the football club has relocated to Fossetts Farm.

In a report to Southend Council’s Labour, Independent and Lib Dem cabinet, Alan Richards, Southend Council’s director of property and commercial says: “The developments also bring inward investment of about £500m to the borough and the significant economic benefits that come with this.

Echo:

Future? - the new Blues training pitch

“During construction at Roots Hall, it is estimated that an annual average of 123 full-time equivalent construction jobs will be created over the duration of the construction period.”

Mr Richards said during construction at Fossetts Farm, it is estimated that about 515 direct new jobs would be created over the construction period.

Following construction, the development would see an increase in Blues’ employees to 136 and an increase in matchday jobs from 136 to about 250.

He adds: “In total, the development at Fossetts Farm is estimated to provide a net additional 1,092 direct new jobs at the stadium, hotel and conference facilities.

“The total jobs created at the Fossetts Farm site is therefore 1,352.

“This would make a significant contribution towards Southend’s employment target of 7,500 new jobs.”

The project will see the new stadium delivered at Fossetts Farm alongside a new “rental community” made up of 850 homes under an agreement with the council.

Further homes will be developed under separate agreements.

The new homes at Fossetts Farm will include a convenience store and cafe. All the housing delivered with the council would be for rent including 30 per cent at affordable rent at or below local housing allowance levels.

The council will be granted long leases over the 502 homes at Roots Hall and the 850 new homes constructed at Fossetts Farm.

The agreement would also secure an important long-term income for the council, a key aspiration for the future due to severely reduced income as Government handouts dwindle.

The council says it will not be involved in the stadium construction, but a legal framework will ensure that the existing stadium at Roots Hall remains operational until the new stadium is opened.