From the Leicester City Council website (Link)

Whilst walking through Leicester city centre earlier today, I noticed a display about a public consultation concerning the regeneration of the Leicester waterside area surrounding the Great Central Way (area shown on map below). This is to improve the overall area, and the man in charge said it is to move businesses setting up their premises in the Meridian area and back into the city. 

It will also planned to include affordable to mid-range housing, a new local centre to cover the area surrounding the A50, improving the provision of cycle and walk pathways down Great Central Way and open spaces in that area.

This project is all part of the ‘Connecting Leicester’ initiative by Sir Peter Soulsby, the current Labour mayor of Leicester.