Multimillion-pound investment to transform derelict steelworks
The West Midlands Combined Authority (WMCA) has announced a multimillion-pound funding deal to transform the former Caparo steelworks in Walsall into a 252-home community.
The funding means the derelict 16.5 acre site, which has been an eyesore for local people for more than a decade, can now be cleaned up and made ready for redevelopment.
Mayor of the West Midlands, Andy Street, said: “It is great to see another derelict brownfield site being brought back into use for much needed new housing thanks to the WMCA.
“Not only will this scheme help to further ease pressure on the greenbelt in the Black Country, but it will also help increase the number of affordable homes being built across the region.
“The funding deal requires developer Anthem Lovell to make at least 20% of the new homes affordable and it’s excellent they have chosen to exceed that and go for 30% instead.”
Cllr Mike Bird, WMCA portfolio holder for housing and land and leader of Walsall Council added: “Caparo’s regeneration is a symbol of the direct intervention the WMCA is making as part of a housing and land programme that is leading the way nationally.
“Breathing new life into this site in this way is just the latest boost to the region’s drive to build enough homes to meet future demand.”
The scheme is being developed by Anthem Lovell (LLP), a joint venture between local housing association whg and Lovell Partnership. The project received funding from the WMCA Housing Land Fund and working with the WMCA will create a mixed tenure development supplying 78 affordable homes.
Stuart Penn, regional managing director at Lovell, said: We’re thrilled to be working collaboratively with the WMCA to deliver multi-tenure communities at both scale and pace, which will help to address the shortage of high-quality homes across the West Midlands, where this partnership will see 4,000 brand-new homes delivered in the next eight years.”
whg’s group chief executive, Gary Fulford, added: “We are always looking at new and creative ways to tackle the housing shortage and the development of the former Caparo site in Walsall will provide more good quality and affordable homes for families in Walsall. This has been made possible by working in partnership with WMCA.”
A reserved matters planning application for the scheme was recently submitted and a decision is expected by the summer.
