UP TO 700 jobs are being created through major work on a second office building at Friargate which has been made possible by a £51.2million grant from the West Midlands Combined Authority.
After a comprehensive tender process Bowmer and Kirkland contractors are developing the site known as Two Friargate, next to Coventry Railway Station.
Coventry City Council is contributing £17million and the employment opportunities will be available throughout construction.
Work is already under way to find businesses interested in taking part or all of the building – creating additional city centre jobs after the pandemic.
Andy Street, the Mayor of the West Midlands and chair of the WMCA, said: “Friargate is a critical part of the regeneration of Coventry, and it is great to see work get underway on the second building.
“As many Coventrians will know this project has been a long time coming, but I am delighted that after the WMCA intervened and put more than £50m on the table, Two Friargate was able to move forward and we’ve reached today’s milestone.
“As well as helping to fund this scheme, the WMCA is also the single biggest investor in Coventry City of Culture next year, and is funding nearly £40million towards the redevelopment of Coventry railway station.
“Coventry is key to the future success of the West Midlands and our economic recovery from the coronavirus pandemic, and I remain committed to helping regenerate the city.”
Coventry City Council leader Coun George Duggins said: “This kind of investment is always welcome and always important.
“But it is amplified by the current pandemic as we need to do all we can for this city and the people who live here so when we finally emerge out of the other side we are in a strong position.
“Coventry has always been ambitious, and we have always driven change so its no surprise to me that developments like this are proceeding.
“This project will provide and support jobs in the city and that’s very good news indeed.”
Two Friargate under the ownership of City Council, will contain 134,000sq ft of lettable environmentally friendly office space with state-of-the-art technological infrastructure, making it easily adaptable to suit future occupiers.