Plans for major city centre regeneration scheme submitted
Plans Coventry’s City Centre South scheme, which includes new homes, shops, restaurants and a cinema, have been submitted.
Plans submitted to Coventry planners by Shearer Property Group involve the redevelopment of 15 acres on the south side of the city centre including Bull Yard, Shelton Square, Market Way, City Arcade and Hertford Street.
The scheme also includes land for a future hotel and also includes co-working premises and community space.
Shearer Property Group said: “Our aim is to create a socially and commercially successful district in which the people of Coventry can come together and enjoy spending time. CCS will change the way people experience the city centre, providing an environmentally friendly, welcoming and safe destination that embraces Coventry’s unique heritage.”
The scheme being backed with nearly £100m of West Midlands Combined Authority (WMCA) funding.
Mayor of the West Midlands Andy Street, said: “The submission of these plans is welcome news. Lockdown has hit our city centres hard but City Centre South, and other major schemes already underway in Coventry, can lay the groundwork for the new jobs, homes and commerce we will need to recharge our local economy.
“That’s why the WMCA has continued to invest millions in new infrastructure and regeneration schemes throughout this pandemic. Not only are we putting £98m towards City Centre South but we are also putting a further £40m into the redevelopment of the city’s rail station and tens of millions more into schemes like Friargate.
“It’s important we show no let-up in this investment as we work to build a greener and fairer future. Coventry and the rest of the West Midlands have many inherent strengths – a diverse and innovative economy, one of the youngest and fastest growing populations in Europe, unrivalled connectivity, brilliant centres of learning, and world-class businesses, large and small.
“It is these underlying strengths, together with major investment in schemes like City Centre South, that will help our region get through this crisis and recapture our pre-Covid-19 economic success.”
The WMCA will continue to work closely with the Shearer Property Group and Coventry City Council in progressing the scheme.