Wolverhampton Council is seeking a company to take on the transformation of Canalside South next to the Wyrley and Essington Canal.
The 17-acre waterfront development opportunity – which equates to the size of approximately 30 football pitches – sits on the eastern edge of the city centre and is made up of the former Crane Foundry site, former British Steel site and land off Qualcast Road.
The council, which bought the British Steel site last year, wants the development to include around 1,000 homes to meet both the city and wider region’s housing needs.
It will also see a mix of retail, leisure and commercial uses and forms as part of a broader regeneration plan for the canalside area.
Earlier this year, permission was granted for 366 homes to be built as part of the 'Canalside Quarter' on the nearby Union Mill and Lower Horseley Fields areas.
However the planned development of the Crane Foundry and British Steel sites is still subject to planning permission.
The former British Steel site was a regional distribution and stockholding centre which has been empty since the collapse of British Steel in 2019.
The council's marketing of the scheme was launched as it began its annual business week, where it is promoting Wolverhampton as 'the city of opportunity'.
Commercial partners Avison Young are supporting the marketing of the site.
Council deputy leader and cabinet member for city economy, Councillor Stephen Simkins, said: “There is a strong developer appetite to deliver a transformational project in this part of the city.
“Canalside South is a large and exciting opportunity and, through our Canalside Delivery Partnership with the Canal & River Trust, we are determined to realise its potential.
“Strong partnership working is at the heart of our business week messaging and by pooling our resources we believe we can bring about a nationally significant development on one of the most historic stretches of canal in the country.
“It will enable our residents to benefit from superb connectivity, amenity and health and well-being opportunities at this wonderful heritage location.”
Watch the council's new Regeneration video for Wolverhampton Business Week here:
Cheryl Blount-Powell, national property development manager for Canal & River Trust, added: “We’re delighted to be working with City of Wolverhampton Council and Avison Young to bring this development opportunity to the market and we look forward to attracting developer interest to deliver a sustainable waterside community in a revitalised destination.
“This development is located next to the historic Wolverhampton and Wyrley and Essington Canals providing green space in the heart of the city centre. Our research shows that being by water is good for our mental and physical health and, with this development being so close to the canal, I hope people living here will feel happier and healthier and spend time exploring our wonderful waterways.”
Mark Birks, regional head of land and development at Avison Young, said: “Canalside South is unique in being such a large canalside regeneration opportunity, offering considerable scope for the development market to deliver a comprehensive scheme offering a broad range of housing typologies and tenures.
“I think the opportunity we have here has the ability to transform this area of Wolverhampton and act as a catalyst for delivery of much needed housing to the city centre.”