£20m bid for Future High Street Fund submitted

City of Wolverhampton Council has submitted a final bid for over £20m to the Government’s Future High Street Fund, which could create 450 jobs if successful.

Since putting forward an outline business case to the Ministry of Housing, Communities & Local Government in January, the council has put forward its final plan with input from key city partners and businesses.

The plans focus on transforming 38 acres to the west of the city centre, focusing on Victoria Street, Bell Street, Fold Street, and public realm around the Civic Halls and the Westside development.

The proposals will also complement the council’s £32m investment in restoring the Civic Halls to create a music and entertainment venue.

As well as the creation of 450 jobs, the cash could potentially unlock the opportunity to deliver hundreds of city centre homes and a new 150-bed hotel.

The outcome of the bid is expected in Autumn 2020.

City of Wolverhampton Council Leader, Cllr Ian Brookfield, said: “If successful with the bid, we believe the money will make a real difference to residents and businesses by transforming our city centre.

“Covid-19 has hit our city hard, exacerbating social and economic challenges. It has also highlighted that urgent and bold action, along with funding, is needed. Through the Future High Street Fund, there’s a real opportunity for local and central Government to work together on levelling up our city.

“Support through the Future High Street Fund will build on the strong delivery that is already underway in the city centre, it will enhance and connect an area of the city centre that has, over recent years faced a number of challenges.

“We have developed – with partners – bold and ambitious plans to reimagine and transform our wider city centre area with better jobs, better skills, better entertainment, better city centre homes, better public spaces, better city centre events and better connectivity. This funding bid is integral to acting as a catalyst to attract further investment and development to realise this vision.”

Development schemes already underway or in the pipeline for the city centre are the £150m city centre Interchange, thousands of new city centre homes at Brewers Yard and Canalside, the multi-million-pound Westside leisure development, Civic Halls improvements, and being the UK’s first eBay partner on the Retail Revival scheme, which saw small businesses reach £7m sales in just one year.

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