Ambitious plans for £20 billion regeneration projects across the West Midlands
It's hoped investors and developers will help deliver the 29 projects.
Up to £20 billion of investment opportunities in housing and regeneration are being offered in the West Midlands, as part of major plans to revive town and city centres.
The West Midlands Investment Prospectus 2023 showcases 29 projects across the region, designed to help breathe new life into local communities.
The schemes look to diversify what town and cities in the region off by introducing more leisure, office and residential development, including affordable housing to help local people secure good quality homes for rent or purchase.
Town and city centre schemes include:
• Coventry City Centre Cultural Gateway
• Creative Quarter Royal Leamington Spa
• Interchange Commercial District Wolverhampton
• Paradise Birmingham
• Rugby Town Centre
• Shrewsbury Riverside
• Solihull Town Centre including Eastgate
• Telford Town Centre Living Cluster
• Transforming Nuneaton
• Walsall Town Centre
• West Bromwich Town Centre
During a visit to The Junction – a new housing development on the site of a derelict foundry in Oldbury, Andy Street, Mayor of the West Midlands, said it was a prime example of the private and public sector working together for the benefit of local people, helping to provide new homes and jobs while supporting the region’s transition to net zero.
The Mayor said: “More and more major national and indeed global players are recognising the investment opportunities on offer here in our region - including both L&G and Lovell.
“With a young, skilled and diverse workforce, internationally renowned higher education institutions, and outstanding connectivity - set to be bolstered in the coming years by the arrival of HS2 - our economy is well placed to prosper in the months and years ahead.
“This Investment Prospectus comes on the back of last summer’s hugely successful Commonwealth Games as well as the new Deeper Devolution Deal this March where we secured £1.5 billion of new funding from the Government - alongside a significant tranche of new powers covering housing & regeneration, transport and skills, giving us even more levers to deliver for local people and our partners in the private sector.”
Cllr Mike Bird, WMCA portfolio holder for housing and land and leader of Walsall Council, added: “With a combined investment value of over £20 billion, this Investment Prospectus sets out the profile and prestige of opportunities which reflect our ongoing mission to further improve people’s skills and quality of life, support our world beating sectors to drive productivity and innovation and deliver our nationally leading brownfield regeneration programme at scale and pace.
“The prospectus also underpins our drive to provide the affordable, high-quality homes of the future and the modern, low carbon workspaces that local people and businesses need to prosper.
“So we want to hear from investors and developers who share our vision of a better connected, more prosperous, fairer, greener and healthier West Midlands.
“The WMCA, our local authorities and other partners stand ready and willing to work collaboratively with like-minded investors to bring forward these exciting projects and help drive our region’s success.”