Step forward set for £3.2bn Arden Cross project

The £3.2bn Arden Cross project, which is anticipated to create almost 30,000 jobs in the region, looks set to take a step forward with a key decision to be made by Birmingham City Council’s cabinet next week.Arden Cross extends to 346 acres to the east of the NEC campus and M42 motorway. It will provide six million sq ft of commercial development space, up to 3,000 homes and a network of public realm and green spaces.The scheme has the potential to boost the regional economy of the Midlands by more than £1bn a year and in turn create and support up to 27,000 jobs. The site is the location of the HS2 Interchange Station now under construction.Birmingham City Council’s cabinet will meet on 8 November to either approve or refuse the appointment of a development partner for the scheme.Commercial real estate services company JLL, which was appointed to help promote the project and bring an investment and development partner on board, has progressed and completed a selection process. However, details of the preferred bidder have not been disclosed.A report for the cabinet said: “ACL and its property advisors have considered a number of options for the development of the site as set out in earlier reports.”The successful tenderer has the resources and experience to deliver the development going forward.”The delivery of the subject site will promote investment into the city region economy.”