TODAY we can reveal the details of a £50 million regeneration project for a prime Newport site which includes new jobs, new homes and the restoration of a landmark.

Supermarket chain Morrisons is a key part of the Linc-Cymru proposals for Lysaght Park.

It will mean the rejuvenation of the Lysaght Institute and the development of 180 affordable homes for rent and sale.

More than 200 retail jobs are expected to be created as well as employment in the construction industry.

The housing association - which already has well-established links with the city through its extraCare schemes and a new state-of-the-art nursing home - is preparing a detailed planning application which could be submitted to the council in January.

Linc-Cymru intends to retain ownership of a refurbished Lysaght Institute and use it for both local enterprises and for community use.

It believes this echoes the Institute's illustrious past when it played a key role in the economic and social life of the community.

Chief executive Robert Smith said when the site was bought last December, they recognised the Institute was an important and symbolic link to Newport's past.

"Since then, we have been working on proposals that would enable the Institute to be refurbished so that it can become a proud symbol of Newport's future."

He added the plans were dependant on getting consent for the overall scheme.

"However, we are delighted to present the city with this wonderful opportunity that will provide a huge boost to the construction industry, high quality affordable homes and a range of full and part-time jobs at the new Morrisons store.

"We will gear ourselves up for a successful outcome and the refurbishment works to the Institute could then commence in the summer of 2010."

* Linc-Cymru intends to hold an exhibition as part of the planning application process to give residents a chance to comment on the proposals.

Councillor 'thrilled' with plans

Lliswerry Cllr Allan Morris said he was absolutely thrilled with the proposals and thanked Linc-Cymru for working closely with the ward councillors.

Cllr Morris welcomed the new supermarket and jobs boost.

"And the cherry on the top is the restoration of one of the most popular buildings in Newport."

Opened in 1928 for the benefit of steelworkers and their families, generations of families enjoyed happy times in the Lysaght Institute but it has become a sad site in recent years.

Previous plans for the site by a national house builder, which included refurbishment of the Institute, stalled during the slump caused by the credit crunch.

But hopes are high that this latest vision will become a reality.