The first phase of the city centre revamp at Oystermouth Road will start next week, the council said.

Swansea Council cabinet approved the spending for the first phase of the city centre regeneration scheme yesterday.

The council will borrow £79m to deliver phase one while the Welsh and UK Governments have pledged to contribute around £23m to phase one, via the city deal for the region. Housing association Pobl Group is to pay just under £5m for 36 flats.

Buckingham was appointed at the beginning of the year as the principal contractor under a pre-construction services agreement.

The £500m Swanse central scheme will include the 3,500-capacity digital indoor arena, a coastal park, digital plaza, landmark pedestrian bridge, car parking and new homes and premises for retail, food and drink.

Swansea Central Phase One will be built either side of Oystermouth Road – on the LC car park and St Mary’s car park.

Phase one includes a multi-storey car park, bridge and hotel.

The new bridge crossing Oystermouth Road will connect the site to another block containing flats and commercial space.