THE £1BN masterplan to transform the area around the planned HS2 railway station in Birmingham has been set out, sketching out a 30-year ambition for the eastside of the city.
The Curzon Investment Plan sets out the ambition of building 4,000 homes and 6.5m sq ft of commercial space, creating 36,000 jobs and adding £1.4bn GVA to the local economy.
Steve Hollis, deputy chairman of the Greater Birmingham & Solihull LEP (GBSLEP), said: “The Curzon Investment Plan is the first major commitment by a local area to maximise the impact of HS2.
“It outlines how we will use HS2 as a trigger to transform an area of untapped potential in Birmingham’s city core and create thousands of new jobs, homes and places for businesses to thrive.”
Plans include the development of Curzon Street Station itself, several new neighbourhoods, offices and retail spaces as well as public realm works.
£907m is being allocated to a variety of projects, and is made up of £586.8m from the GBSLEP, which draws funds from business rates within the Enterprise Zone, and £137.2m from the West Midlands Combined Authority.
A further £183.3m has been earmarked towards the cost of delivering Metro extension projects, connecting the eastside of the city to central Birmingham and out to Birmingham International Airport and Solihull, where a HS2 interchange station is planned.
Prime Minister Theresa May, who launched her leadership bid in Birmingham this summer, welcomed the announcement.
She said: “I’m delighted that Greater Birmingham is making this investment in the future, working to maximise the potential of HS2 by investing in jobs and housing – and encouraging more business investment.”
However the announcement comes on the same day as MPs published a report casting doubt on the timeframe for HS2.
The Public Accounts Committee said “it is not convinced” that the London-Birmingham part of the route, scheduled to be completed in 2026, will be ready on time.
It also expressed its worries that the second phase of the route, going north in two branches to Manchester and Leeds, is still surrounded by so much uncertainty about its route, cost and schedule. Further announcements on HS2 from the Department for Transport are expected in the weeks ahead.
The Curzon Investment Plan responds to the strategic direction set by the Curzon Masterplan that was launched in February 2014.
Both plans sit Curzon within the region-wide HS2 Midlands Growth Strategy which aims to deliver £4.4bn transport infrastructure and major economic growth.
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