Type=image;ImageID=10260;ImageClass=left;ImageTitle=Canalside in Wolverhampton city centre;TitleClass=strong;
The announcement was made on Tuesday at a Houses of Parliament event showcasing Wolverhampton as a city of opportunity to a room full of high profile developers and investors, and MPs.
The Canalside Delivery Partnership also includes the Canal & River Trust, Homes and Communities Agency (HCA), Network Rail, and the West Midlands Combined Authority.
The site is minutes away from the city centre and transport Interchange, and consists of 47 hectares in the ownership of the partnership. Early ideas for the site include an anchor leisure scheme clustered around existing historic buildings, which could include restaurants and a micro brewery.
There is also the potential for residential apartments - with a city centre living proposition for more than 600 new homes - as well as creative workspaces and a marina development.
LED and mood lighting around the canals and tunnels is also being progressed.
City of Wolverhampton Council Deputy Leader and Cabinet Member for City Assets, Councillor Peter Bilson, said: "Canalside is a large and exciting opportunity that will require determined and skilful leadership to realise the opportunity.
"The formation of the Canalside Delivery Partnership is a significant step forward.
"All of these land owners are working together to bring about a nationally significant development at this wonderful heritage location."
Cheryl Blount-Powell, Development Manager, Canal & River Trust, added: "Through the application of our regeneration and development fund and using the skills we have in house together with our consultants we are able to fulfil a key role in ensuring the ongoing enhancement and improvement of areas in the vicinity of the UK's canal and river networks.
"Our vision is that living waterways transform places and enrich lives."
- released: Thursday 14 July, 2016