JV appointed to develop plans for 1,000-home scheme
Wolverhampton Council has appointed a joint venture, to deliver development plans for the 1,000-home City Centre West Quarter.
The English Cities Fund (ECF), the JV between Muse, Legal & General and Homes England, will enter a partnership with the City of Wolverhampton Council following approval from its cabinet yesterday (October 18).
City Centre West is the largest regeneration opportunity in the city centre worth £50m, with plans to deliver 1,000 homes alongside leisure, retail, and public spaces.
The scheme which is outlined in the Wolverhampton Investment Prospectus, also proposes a 600 space car park.
Subject to heads of terms being agreed, the council and ECF will work to develop a strategic brief for the first phase of the scheme. This initial proposal will inform an outline planning application, together with a detailed phase one planning application.
Maggie Grogan, managing director for the Midlands at Muse said: “Wolverhampton is an ambitious city with a can-do attitude. City Centre West sits at the heart of the Council’s vision, and the English Cities Fund is ready to work in partnership to deliver.
“The opportunity to create new homes, jobs, and public spaces through regeneration is clear. More importantly, regeneration is an opportunity to make a positive impact on people’s lives today and for future generations.
“This is the first partnership to be announced by ECF in the West Midlands. It demonstrates our commitment to Wolverhampton and the wider region.
“We have already developed a close relationship with the Council and look forward to working together to leverage regeneration for the benefit of all Wolverhampton’s communities.”
Council Leader, Cllr Stephen Simkins said: “The Wolverhampton Investment Prospectus presents an ambitious vision of how the city can grow – highlighting opportunities to build on the levels of public and private sector investment already on site or in the pipeline in Wolverhampton.
“Agreeing a partnership with English Cities Fund has the potential to attract significant investment and create new jobs across Wolverhampton – and it is important that we capitalise on the city’s pathfinder status referenced in the Government’s February 2022 Levelling Up White Paper, with the opportunities for investment that presents.
“A City Centre West scheme can provide a wide range of benefits with the introduction of new housing, new jobs, and opportunities as well as the social and economic benefits in linking the city back into the surrounding suburbs at precision and pace.”
