A network of new and improved green spaces, including two community parks, will be created as part of the Orchard Park scheme in Hull.

Hull City Council's (HCC) cabinet has approved plans for the development, which is the subject of a detailed funding bid to the government for around £150m of PFI backing. The scheme, which will see the Danes and Thorpes areas of Orchard Park undergo major changes, also includes around 500 new council homes and private residential units.

HCC cabinet member with responsibility for regeneration Rick Welton said: "If the funding bid is successful it would be a major boost not only to Orchard Park but for the city as a whole. £150m is a huge amount of money and would create much needed jobs for local people." A decision is expected from the government in spring 2011. If approved, HCC will launch a procurement process expected to take up to three years.