Deal goes through two years after Berkley named preferred bidder on £2bn scheme
A development agreement has been confirmed for the regeneration of a Birmingham estate expected to deliver around 7,500 homes.
Birmingham City Council chose St Joseph, which forms part of the Berkley group, as the £2bn scheme’s preferred bidder two years ago, but a formal agreement only took place this week.
Sharon Thompson, deputy leader and cabinet member for economy and skills and deputy mayor of West Midlands, said the delay was to “ensure we have secured the best deal for Ladywood and the City.”
The Ladywood Estate Regeneration Scheme will be delivered over the next 20 years, with 70% of existing homes due to be refurbished or replaced, including al council homes.
Meanwhile, a “significant” number of new homes will be built, with a minimum of 20% designated for affordable tenures.
The council and developer are aiming to minimise demolition and the compulsory purchase of private homes.
St Joseph will now begin designing a masterplan for new homes, public spaces and infrastructure. On-site work is not due to start until at least 2028.
>>See also: Birmingham Council submits proposals for 3,500-home regeneration scheme
>>See also: Lendlease gets green light for first 408 homes at Birmingham Smithfield
Thompson said: “I want to reassure the community that this is the beginning of the master planning process, and all residents will be given the opportunity to be fully involved.
“The investment being made is a once-in-a-generation opportunity for the regeneration of the Ladywood Estate to make it more sustainable, provide better facilities, better transport links, walking routes, and green spaces.”
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