City redevelopment scheme sees huge funding boost

The development covers a 12-acre site linking School Street and Darlington Street and the area around Market Square

A project to build hundreds of new homes in Wolverhampton is to be given a multimillion-pound boost from the West Midlands mayor.

The first phase of the Smithgate development will see new homes, retail and public space around Market Square.

It will ultimately form part of a 12-acre redevelopment made up of 1,000 homes and retail, leisure and commercial space, City of Wolverhampton Council said.

Council leader Stephen Simkins said the money was "a major shot in the arm" for the plans to transform the city centre."

He added: "Once the investment deal is finalised it will enable activity to start on site for the delivery of hundreds of new homes for local people – creating jobs, reshaping our city centre and boosting businesses."

Mayor Richard Parker said the West Midlands Combined Authority (WMCA) had pledged the investment and would now hold discussions with the developer ECF.

Building more homes on derelict industrial and brownfield land has become part of the mayor's recently launched regional growth plan, which also covers improvements to transport and create jobs.

"This scheme will be a catalyst for growth in Wolverhampton, providing hundreds of badly needed homes," Parker said.

"People living in these new homes can look forward to having restaurants, shops and leisure facilities right on their doorstep, helping to breathe new life and vibrancy into this part of the city centre."

Earlier this year, the mayor announced a £20m investment into the Canalside South regeneration scheme in the city - a £150m redevelopment across the former British Steel and Crane Foundry sites - which will see more than 500 new homes being built.