Green light for first phase of £450m Coventry regeneration project
Coventry City Council has granted planning permission to Shearer Property Regen, for the first phase of the City Centre South project.
The joint venue between development partners, the Hill Group and Shearer Property Group will now deliver 991 homes, 8,000 sq ft of commercial space and 17,000 sq m of public open space.
It’s part of a wider £450m transformation to create a total of 1,575 homes, retail and leisure space, a community health centre and hotel development with 150 rooms in the second phase.
£12.24m of additional funding was been unlocked by the West Midlands Combined Authority (WMCA) after the scheme was delayed due to increased costs resulting from the revised Government Building Regulations and Building Safety Act.
Guy Shearer of Shearer Property Group said: “This planning consent is the culmination of many years’ work and will now unlock the delivery phase of this highly-anticipated scheme. City Centre South will create a vibrant new quarter for the city with an eclectic mix of the latest shops, bars, and restaurants, an exciting environment for the homes above.
“Delivering a project of this scale and complexity could not have been possible without the skill, dedication and commitment of our partners, The Hill Group, along with the support and collaboration of the council and WMCA. This consent marks one of the final and most important milestones in making this a live project.”
The homes will be split across a series of four buildings ranging in height from five to 19 storeys. They will range from studios to three-bedroom houses, with 200 of the homes marked as affordable housing, 145 of which will be made for social rent and 55 as shared ownership.
The remaining 791 homes will be available through private market sale and rent.
Energy-efficient construction methods will be included and will feature a range of sustainability initiatives, including photovoltaic solar panels, green roofs, low-energy lighting, water-saving fixtures, and connection to an efficient district heating system.
Councillor Jim O’Boyle, cabinet member for jobs, regeneration and climate change said: “This is great news and another step in the right direction for the first phase of City Centre South. City Centres are changing and this development will create a new community in the city centre, including much-needed affordable and social homes.
“This investment, led by the private sector will create a thriving, bustling new area with plenty of people living at the heart of it and supporting shops, restaurants and leisure attractions as well as creating jobs for local people. I’m looking forward to work starting.”
