Prospectus of £10bn in West Midlands

Prospectus of £10bn in West Midlands

Andy Street, Mayor of the West Midlands, unveiled an Investment Prospectus that showcases up to £10 billion of schemes. The region is going to see strong growth, both economically and culturally, with Birmingham hosting the 2022 Commonwealth Games and Coventry becoming the UK City of Culture in 2021.

“Our industrial heritage is second to none but we are also home to the industries of tomorrow and are busy creating a new industrial revolution in the very place where it all began,” he said. “So now is the time to invest in the UK’s new growth capital and its most liveable, investable and competitive region.”

The Prospectus mentioned that some of the sites involved will aim to build on the investment being put into the region’s infrastructure, especially transport. This includes the HS2 high speed rail line that will open in 2026 and a series of new Metro tram extensions across the region.

“This Prospectus will show how we are creating fresh opportunities in the former industrial communities of the West Midlands, turning brownfield sites into new homes, schools, offices and factories,” said the Mayor. “We want this growth to benefit everyone and for this Prospectus to provide the things that really matter to people like good homes, jobs and access to skills and learning.”

Some of the other 20 schemes featured in the Prospectus are: UK Central Hub and HS2 Interchange, a landmark project in Solihull around a unique concentration of business and infrastructure assets; Birmingham Paradise, an opportunity to invest in a commercial, retail, leisure, and hotel development in the heart of the city centre, Friargate Coventry, a development that will deliver prime office space, hotels, homes, shops, restaurants and public space; Interchange Commercial District and Canalside Living Quarter, a scheme that offers investment opportunities for residential, leisure and commercial developments in Wolverhampton; and i54 Western Extension, which involves the extension of the existing business park by up to 100 acres.

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