New body will have land acquisition and planning powers
The mayor of the West Midlands has launched a new development corporation to lead on the regeneration of East Birmingham.
The Birmingham East Mayoral Development Corporation (BEMDC), launched yesterday (Tuesday) at UKREIIF in Leeds, will be responsible for an £11bn regeneration project spanning 422ha, or the size of more than 600 football pitches.
Its scope includes Birmingham’s Knowledge Quarter, the new HS2 Curzon Street Station and adjoining Central Heart site, and the £2bn Smithfield development.
Land has been earmarked for a £3bn sports quarter, with a 60,000-seat Powerhouse Stadium, for Birmingham City FC, at its heart. The quarter will be served by a new tram route.
BEMC will combine powers including land acquisition, planning, business tax incentives and infrastructure funding to push development in the area forward.
“This MDC is big, bold and ambitious, reflecting Birmingham’s position as the UK’s second city,” said Parker.
“It will be a magnet for investment, de-risking major projects while providing the stability and continuity needed for investor confidence. It will also cut through red tape, so we waste no time getting spades in the ground on these hugely significant regeneration schemes.
“This is a once in a lifetime opportunity to end the deep-rooted deprivation that has blighted lives for too long in East Birmingham and create places people and businesses are proud to call home.
“The scale of this Corporation shows that Birmingham is back and ready to lead the UK’s return to growth.”
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