One of the most ambitious and transformational city center regeneration projects in the United Kingdom and one of the largest of its kind in Europe, Liverpool ONE is a £1 billion (USD $1.7 billion), 17-hectare (42-ac), mixed-use development in Liverpool, which for years had suffered from disinvestment and decline. Located on the site of the original “pool”—the historic shipping and trading area of the city—of Liverpool, the Liverpool ONE development now boasts six distinct districts, each with a different character and design. Liverpool ONE comprises 165 retail units with over 50 percent of brands new to Liverpool across 152,500 square meters (1.6 million sf) of retail and leisure space, 3,250 square meters (34,983 sf) of offices, more than 500 residential units, two hotels, a 14-screen cinema, a two-ha (five-ac) park, a new public transportation interchange, and 3,000 parking spaces.