The West Midlands Combined Authority (WMCA) has approved plans to transform former industrial sites across the region.
As well as providing housing supply, the WMCA hoped the investment in the sites will help the regional economic recovery following Covid-19, securing hundreds of jobs in a range of sectors.
The sites include Fountain Lane in Sandwell and Abbotts Lane, Coventry.
The derelict Fountain Lane site is located to the north of Oldbury town centre. Once home to industrial units and a foundry, it has been out of economic use since the buildings were demolished a decade ago.
As a result of its previous use, the site needs to be cleaned up and made ready for development.
The Abbotts Lane site, located immediately north of Coventry city centre, was formally used as a National Grid depot and operations centre.
Full details of the schemes at Abbotts Lane and Fountain Lane will be announced in the coming weeks.
The deals follow a series of landmark funding commitments over the last six months for the regeneration of derelict industrial land, often referred to as brownfield.
Numerous multi-million-pound investments have been signed off by the WMCA’s investment board as the region continues to lead the way on brownfield regeneration, economic development and housing delivery.
The strategic funding programme set out by the WMCA includes commitments to offering affordable homes under the innovative new regional definition of affordability, which is applied to all projects it helps fund.
‘Despite the challenges we are currently facing, the work of the WMCA continues and investments are being made now that will ultimately help our regional economy bounce back strongly from this crisis,’ said West Midlands’ mayor, Andy Street.
‘It is crucial we keep up momentum in unlocking the region’s brownfield sites to deliver much-needed land for development, safeguarding existing jobs and creating new ones in the process.
‘Continuing to move forward with our strategic investment programme will also help maintain confidence in the market. The need to regenerate our derelict urban sites does not stop because of Covid-19, it becomes more important than ever,’ added Mr Street.
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