The corporation was established as part of an initiative by the future Deputy Prime Minister, Michael Heseltine, in 1988 during the Third Thatcher ministry.

[1] Board members were directly appointed by the minister and overrode local authority planning controls to spend government money on infrastructure.

[2][3] The formation of the corporation was delayed for 18 months as a result of a petition from Bristol City Council to the House of Lords.

[7][8] During its lifetime 1,300,000 square feet (120,000 m2) of non-housing development and 676 housing units were built.

Circa 180 acres (0.73 km2) of derelict land was reclaimed and 4.1 miles (6.6 km) of new road and footpaths put in place.