From 1997-2002 the Ouseburn Partnership worked to regenerate the Ouseburn Valley in a way that involved local people and built on the best of what the Valley already had to offer:

• creating new and better jobs in the area by supporting local businesses and creating new workshop and studio spaces
• supporting and providing training and education for local people
• increasing the number of people visiting and enjoying the valley by improving access and developing existing and new leisure facilities.
• Improve the environment - the river, footpaths and open spaces
• Improve personal safety and security through lighting improvements and CCTV cameras
• Preserve and bring back into use fine old buildings in the Valley
• Open up and interpret  the industrial heritage of the Valley, including the Victoria Tunnel for local people, children and visitors
• Bring people to live in the Valley by providing a mix of houses and flats to rent and to buy

It attracted £2.5m from the Single Regeneration Budget Challenge Fund between 1997 and 2002 and brought in as much again from the private sector, housing association and the voluntary sector. Between four and five staff were employed to implement the project

The Ouseburn Partnership was led by the Trust and included 18 other organisations including Newcastle City Council, local businesses, community groups, voluntary organisations and housing associations. Many of the Partnership's projects became the Trust's responsibility after the Partnership ended