Croydon Council has announced plans to revamp high streets and public spaces in Thornton Heath, Selsdon, New Addington and Purley.

A total of £3.7 million is being put towards the revamp from the Department of Levelling Up’s UK Shared Prosperity Fund. 

Mayor of Croydon, Jason Perry said: “Our UKSPF investment plan is all about complimenting and supporting the existing work of the council and its partners to help residents and businesses thrive – and there’s certainly no shortage of activity going on at the moment in Croydon.”

The council has submitted plans for how it will spend the first £2.5 million. 

The total allocated fund of £3.7 million will be spread out over the next three years.

“This funding will open up big opportunities, ranging from transforming the spaces at the heart of our communities through to invaluable mentorship for the next generation of local entrepreneurs,” Perry said. 

A reported £580,000 from the budget will be put towards public space improvements.

The council will spend £230,000 to fund cultural, heritage and community events when Croydon becomes London Borough of Culture in 2023.

Another £610,000 from the funding will be set aside for local businesses, as well as monthly clinics that would aid medium and small businesses.

These funds will be focused on “existing support and close collaboration with partners” such as London South Bank University and South London Partnership.

While another £294,000 will reportedly be spent for Croydon’s creative, digital and tech sectors, plus venues like pubs, restaurants and clubs in order to uplift the nightlife in Croydon.

Perry added: “I am determined to put Croydon back on the map for the right reasons, showing everyone exactly why people should be proud to live and work in our borough.

 “This is the right time to be ambitious and harness all that our borough has to offer.”

Croydon Council has also revealed that it plans to open a Young Entrepreneurs Academy next year for residents aged 18-25. 

The academy will aim to guide and support young people in starting their own businesses, as well as boost the local economy. 

Earlier this year the council revealed it was once again on the brink of bankruptcy, after £73 million in funds was reported as “misused” outside of the Housing Revenue Account.