Wolverhampton City Council is set to enter into a joint venture for its City Centre West project.
The council held a vote yesterday to kickstart proceedings that will see it enter a partnership with the English Cities Fund, a consortium of Muse, Legal and General and Homes England.
Under the plans, the joint venture will redevelop a yet to be specified site with over 1,000 new homes, as well as leisure and retail spaces.
The council and the team will now work together to jointly develop the brief and initiate formal proceedings such as planning permission.
Councillor Stephen Simkins, the leader of the council, said that the deal “has the potential to attract significant investment and create new jobs across Wolverhampton”.