Context: The ’New Life for Old College Project’
The iconic Old College in Aberystwyth is at the centre of an ambitious regeneration project aimed at revitalising the town, university and wider region. This nineteenth century, grade-1-listed building is rich in cultural and architectural significance as the first home for the then fledgling University of Wales. However, whilst it remains an iconic building as a well-recognised symbol of the university, the building has lacked a core purpose or role within the town in recent years and was largely unoccupied, with the lack of significant investment very apparent. Accordingly, thanks to funding from a range of sources (National Lottery Heritage Fund, European Regional Development Fund, Levelling-up Fund and others), the building is being transformed with plans that include upgrading the structure and developing a broad and holistic offer encompassing:
Culture and Community providing space for functions, events, business / other conferences, exhibitions, visitor welcome, places to eat and drink, and high-end visitor accommodation.
World of Knowledge providing facilities and features to support the dissemination of knowledge through activities, training and exhibitions.
Enterprise and Innovation with business enterprise units that will encourage entrepreneurs and innovation, particularly in the creative industries sector.
The successful regeneration of the Old College is expected to significantly contribute to economic development in rural Wales, supporting job creation, and enhancing Aberystwyth's role as a key cultural and educational hub in Ceredigion.
Wavehill were commissioned to evaluate the project in 2021. This evaluation will be delivered until 2027, one year after the project has become operational in order to measure the impacts of this ambitious regeneration project.
Approach: Stakeholder Consultations and Data-Driven Planning in Regeneration Projects
A data-driven approach was essential to measuring the success of the New Life for Old College project. We first established a comprehensive baseline for monitoring and evaluation, using local, regional, and national data. This baseline has served as a tool to measure progress for the duration of the evaluation. It ensures the project meets the specific requirements of multiple funding bodies, such as the National Lottery Heritage Fund and Levelling Up Fund.
Crucially, the project involved extensive consultations with a wide range of stakeholders, including local businesses (such as restaurants, retail outlets, and service providers), community groups, local residents and visitors. These consultations provided valuable insights into the support for the project, the perceived importance and potential of the Old College building, and broader perspectives about Aberystwyth as a place to live. This approach ensured that broader goals of improving community cohesion and economic uplift could be measured, and provided valuable insights for Aberystwyth University with regards to local support for their project. The consultation outcomes were integrated into the design and planning phases, and a structured system was put in place to track changes in key economic and social metrics over time.
Impact: Measuring Economic and Social Benefits in Aberystwyth and Beyond
The regeneration of Aberystwyth's Old College is set to be a game changer for the town and the wider region. It is anticipated that the project’s impact will extend beyond its immediate physical transformation, to deliver lasting economic and social benefits. By measuring these effects through a robust evidence-based framework, the project will demonstrate its value not only to users but also to the broader community and regional economy.
To date, we have issued a Baseline and Evaluation Framework report (2023) on which our monitoring and evaluation activities will be based. We have issued an interim Evaluation Report (2024) exploring the progress of the project’s capital works and delivery against its ERDF targets. Further reporting is planned throughout this project.
Key anticipated outcomes include
Job Creation: The development will create new employment opportunities, both during and after construction, particularly in the hospitality, retail, and tourism sectors.
Economic Growth: The regeneration project is expected to increase footfall in the town, benefiting local businesses and boosting economic regeneration in rural Wales.
Cultural and Heritage Preservation: As an iconic building, the Old College’s refurbishment will strengthen Aberystwyth’s position as a centre for heritage tourism, attracting visitors and further investment.
Model for Future Regeneration: The evidence gathered through monitoring will be crucial in securing additional funding and could serve as a blueprint for similar heritage regeneration projects across rural towns in Wales.
By creating a solid evidence-base and tracking the social, cultural, and economic changes over time, the project is well-positioned to attract further investment and demonstrate the lasting benefits of heritage-driven economic regeneration. This project is not just about upgrading a building – it represents a significant boost for Aberystwyth, its residents, and the wider region, paving the way for sustained economic growth in rural Wales.
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