In a report submitted by executive director for Place and Economy Steve Cox to the Growth, Environment and Resources Scrutiny Committee at Peterborough City Council (PCC), further plans relevant to the regeneration project at Northminster have been announced.
Mr Cox wrote that 150 apartment dwellings could be on their way to the site, and explained that PCC may need to move the market if there isn't a viable space for it within the plans.
In the report, to be discussed at an upcoming meeting, Mr Cox said: "The market, the former market car park and Laxton Square areas will be sold to the Peterborough Investment Partnership (PIP) to progress a comprehensive regeneration scheme for the area, which is identified within the local plan as being suitable for around 150 apartment dwellings with some active ground floor uses."
Mr Cox explained that the proposals would also include a number of affordable housing units, with plans due to be submitted in late spring 2021.
He added: "One option under exploration is the retention of a market at ground floor level. However, if this proves not to be feasible or viable, PCC will be required to relocate the market before the redevelopment of the area can progress."
Last year, Peterborough Civic Society put forward plans to move the city market into Westgate House, formerly the Beales department store.
At the time, we asked Peterborough Matters readers where they would like to see the market, with 52.2% of voters saying they supported the Civic Society proposal to put it in Westgate House, while 27.99% of the voters said Cathedral Square and 13.84% said to keep it where it is.
With new developments taking place in the city, there are numerous places that the market could be located to should it need to be moved.
The news of the market potentially moving comes shortly after the Towns Fund programme was announced, with a £3.6bn initiative supported by the government to address the under-performance of cities and towns across the UK.
The fund covers projects in areas including land use, planning and infrastructure; transport and connectivity; enterprise and skills development. Peterborough is one of the first seven cities to receive confirmation of a Town Deal.
The largest project by value is a proposal for a new Library and Cultural Hub in the TK Maxx / New Look buildings in Bridge Street. The buildings were purchased by PCC for £3.975m and will be converted and fitted out using the Towns Fund investment and PCC's Capital Programme funding.
The next meeting of the Growth, Environment and Resources Scrutiny Committee will be held on January 13.