The Wolverhampton Development Company (WDC) has announced its plan for at least £1bn of investment in regeneration projects around the city in the next 10 years.

WDC’s goal is to create 30,000 new jobs by 2031. The initial phases of development will cover over 26m sq ft of mixed-use floorspace across the city. The initial developments will include i54, a technology park which will create over 6,000 jobs; City Gate/Fordhouses, a £70m hotel and office development; Interchange, a £180m redevelopment of the city centre; the Goodyear redevelopment, a residential community which will include 650 new homes as well as Summer Row, a £300m new retail quarter which will include 600,000 sq ft of retail units and 140 apartments.

To support a regeneration project of this size the city’s transport network is also set to improve. Subject to planning permission, construction will begin on a new train station in spring 2009 which will be due for completion in 2010. This will be followed by a new bus station which will complete in 2011.
Stephen Catchpole, chief executive of WDC, told PIN: “With the scale of development in Wolverhampton there are opportunities across the board for investment, ranging from the £300m Summer Row retail quarter to opportunities for the smaller investor. We are keen for more residential investment within the city and this could benefit private investors.”