PREPARATIONS have begun for the city's 'next big project' – a 500-home community with commercial offices and research space, shops and restaurants opposite the Westgate Centre.

The hunt for a developer to bring forward the proposed Oxpens scheme is under way and plans could be lodged by next summer.

It is the next phase of the regeneration of the west end of the city, which, following the Westgate, will also include the Oxford Station redevelopment and the £600m Osney Mead project.

Oxford City Council leader Bob Price said: "It's the next big project for the city and the regeneration of that part of Oxford

"I'm very pleased we are now able to go out to find a partner who will share our vision for a mixed housing and commercial quarter.

"It will bring in much-needed office space and research orientated buildings in the centre – as many high tech firms are currently based outside the city centre."

The initial masterplan involved '300 or more' houses and flats – 50 per cent of which will be 'affordable' – on the site, but Mr Price revealed further studies had increased that to 500.

He said: "The homes will probably mean around 1,500 living there making a big difference to the local community.

"It's not going to be traffic-free but there will be a limited number of car spaces, and pedestrian and cycle routes and links to Osney Mead and the station will be a significant part of the project."

He added that the need to widen Botley Road bridge as part of the Oxford Station project, and the potential build up of traffic in Frideswide Square could be a problem, and 'very intense' discussions were being held with Oxfordshire County Council to resolve the issue.

Last year the city council and Nuffield College – the Oxpens site's two major landowners – formed a joint venture company to bring forward the plan.

Leader of the city's Liberal Democrat group, Andrew Gant, said Nuffield's inclusion was a positive but that the housing had to be affordable and for key workers.

He said: "We must be prepared to look at the kind of homes on offer and ensure they do not exclude exactly the kind of people Oxford needs – workers in key sectors like education and health who are not provided for in current planning models.

"It's also worth pointing out that the residential part of the new Westgate, bang opposite, contains no affordable housing at all.

"This shortfall must be made up somewhere."

Attracting funding and a developer for the £75m Oxford Station project has proved difficult, with the project's scope increased to make it more commercially viable.

But marketing agents Bidwells and JLL, leading the search for a developer, said the Oxpens scheme would have no such issues.

Ian Purvis, speaking on behalf of both firms, said: "The site offers the opportunity to transform the largest remaining development area in the city centre and provide a vibrant community, with the potential to develop 1m sq ft, including new homes, commercial uses and public space, close to the river and rail station.

"We believe there is likely to be strong developer interest given the limited development opportunities in such an historic city.

"It sits in prime position almost opposite John Lewis, between the new Westgate shopping centre and Oxford railway station."

It is hoped a developer will be appointed early next year, a planning application lodged in the summer and construction work – taking three to four year – will start in 2019.

The Osney Mead development is hoped to begin in 2019 and would be a 20 year project, while work on the station is earmarked for the early 2020s.