£3 billion regeneration masterplan announced
Development site is considered key to tapping into the benefits of the new HS2 Interchange station in the West Midlands.
A new £3 billion masterplan for a regeneration project with the potential to create 27,000 new jobs is being unveiled today.
Public and private sector chiefs are taking the next step in their plans to redevelop more than 340 acres of land east of the M42 in Solihull to create 'Arden Cross'.
The long-muted project is aiming to tap into the economic benefits of the new HS2 Interchange station by building up to 3,000 new homes and six million sq ft of commercial space.
These numbers are not set in stone and the team behind the scheme is planning to open it up to public consultation in September to gauge what other options could be pursued.
A new indicative image has also been released today showing how the redeveloped land could look, with estimates suggesting it could boost the region's economy by £1 billion.
Interchange is one of four new stations planned for the first phase of HS2 between London and Birmingham and will sit at the heart of Arden Cross.
The site will neighbour other facilities of immense economic significance to the West Midlands including the NEC and Resorts World, Birmingham Airport, Birmingham Business Park and Jaguar Land Rover - a cluster area collectively known as 'The Hub'.
This, along with Blythe Valley, north Solihull and Solihull town centre, make up the overall public/private regeneration and economic development project known as UK Central.
Arden Cross director Ben Gray said: "The intention for Arden Cross has always been to deliver a world-class development with the HS2 Interchange station at its heart and, by launching our masterplan, we are a step closer to delivering that ambition.
"Shareholders are focused on creating a game-changing legacy that will lift the entire Midlands economy.
"Our 346-acre site provides the opportunity to deliver significant economic growth and a sustainable mixed-use environment, bringing together new homes, work and learning places, all served by extensive transport links and car free public spaces.
"Unlocking this transformational opportunity will require a collaborative approach between the public and private sector.
"As we put our masterplan on show for the first time, I am looking forward to continuing to work closely with central government, Solihull Council, the Urban Growth Company, the West Midlands Combined Authority, regional stakeholders and local communities to bring our plans to fruition."
The Arden Cross Consortium is formed of the three landowners who own the development site, namely Birmingham City Council, Coleshill Estate and Packington Estate.
The project is expected to take around 20 years to deliver.
The masterplan document, which sets out the proposed framework and structure of the long-term development, can be found on the Arden Cross website. Further details supporting the masterplan, an online survey and opportunity to comment will be launched in September.