Revealed: 1,100 new homes for Wolverhampton in ambitious 'city living' plan
New homes, shops and restaurants will be created as part of the Brewers Yard development near the University of Wolverhampton's Springfield Campus.
Plans for a £185 million city living development that will see 1,100 new homes in the heart of Wolverhampton have been announced today.
The ambitious Brewers Yard scheme will see luxury and affordable homes to rent and buy, high rise blocks, tree-lined walkways and shops and restaurants on a 10-acre plot near the University of Wolverhampton's Springfield Campus.
It is the biggest infrastructure project the city has ever embarked on, and has been dubbed a "game-changer" that will see Wolverhampton compete with Birmingham for high quality city living.
Take a video tour of the campus:
Bosses have today pitched the project at the MIPIM property market in France, where they hope to build on the success of Fosun's ownership of Wolves by attracting Chinese investors.
It is a joint venture between developers Court Collaboration, Wolverhampton Council and the West Midlands Combined Authority (WMCA).
Remedial work to brownfield land on the site could start later this year.
Construction is set to start in 2020 with the aim of completing the phased development in five to seven years.
Anthony McCourt, CEO of Court Collaboration, said "the stars have aligned" to create a huge development that will "create an aspirational city centre living project in the centre of Wolverhampton".
"It is apartment living for the 21st century at a price that is affordable for local people. It will bring a new destination for the city and create the type of homes that have proved to be a big success in Birmingham," he added.
Wolverhampton Council's economy boss, Councillor John Reynolds, said the scheme would link up with the city's new transport interchange and provide "easy access to a re-invented city centre".
“This is a real game-changer for the city of Wolverhampton," he added.
It is part of a series of major developments across the city totalling £3.7bn, including the £50m Westside scheme and the Canalside development for 600-700 homes on a site near the railway station.
Court Collaboration, which is building around 1,000 new homes across Birmingham, will provide capital and expertise for the scheme.
Wolverhampton Council has agreed to provide the land, which borders Wednesfield Road, although private investors are required to turn the project into a reality.
Mr McCourt said: "I am confident that we can get this off the ground. The political leadership in the city is pro-development and wants it to happen, and the Mayor and the combined authority are making it commercially viable."
He added that Chinese firm Fosun's links with the city meant that major businesses in the Far East already had their eyes on Wolverhampton as a place to invest.
The scheme was touted to potential investors in Cannes this morning by a delegation including Wolverhampton Council's managing director Tim Johnson and regeneration director Richard Lawrence.
The pitch included a short video clip of the development presented by Wolverhampton-born television presenter Jacqui Oatley.
The expected economic benefit of Brewers Yard to the City of Wolverhampton from the scheme is £250m.
Bosses say it will also deliver hundreds of permanent new jobs, more than 1,000 construction jobs, and apprenticeship and training opportunities for students.