COVENTRY’S City Centre South regeneration has taken a step closer to becoming a reality after receiving a £12.24million cash boost.
The money has been approved by the West Midlands Combined Authority to ‘help unlock’ the scheme.
The £450million scheme aims to transform ‘outdated’ areas of the city, including Bull Yard, Shelton Square, City Arcade, and Hertford Street.
It will cover 6.3hectares of land within the city centre and will include 1,575 new homes, 20 per cent of which will be affordable.
The second phase of the grand plans will include new retail and leisure spaces, a community health centre and a potential new hotel with 150 rooms.
If detailed planning consent is granted this spring, work could begin this year, with the first homes expected to be ready by 2027.
The first phase is expected to be completed in 2031.
The project was first drawn up in 2015 and received planning approval from Coventry City Council in January 2022.
West Midlands Mayor Andy Street said: “This is an exciting time for Coventry as this brownfield redevelopment represents a landmark investment and significant regeneration opportunity – the likes of which this city has not seen for decades.
“It’s great to see a vibrant new district come to life in this historic part of the city and I’m looking forward to visiting it once completed.”
Coventry City Council’s cabinet member for jobs, regeneration and climate change, Coun Jim O’Boyle added: “This is great news and the additional funding means the developer can now get on site and get cracking.
“City centres are changing – and Coventry is no exception – so this investment will help to ensure our city centre can continue to prosper.
“It will create a thriving, bustling new community that can help to support shops and restaurants and leisure attractions and create jobs and apprenticeships.”
