Market Leads & Opportunities

£200 million fund from WMCA to build 12,000 homes open to developers

Source: https://www.wmca.org.uk/news/200-million-fund-from-wmca-to-build-12-000-homes-open-to-developers/

To date, of the 6,285 homes unlocked by WMCA investments since 2018, a total of 2,045 are affordable – nearly 33%. These properties being built with the support of WMCA funding are also helping to keep the region on track to exceed its housing target of 215,000 new homes by 2031. The Mayor said: “The derelict Longbridge site was always a stark and painful reminder of how far the West Midlands had fallen during the so-called ‘boom years’ as the rest of the country surged forward. “But standing on the iconic site now, when so much life has been breathed back into it, shows just how far we have come in recent years. It is a wonderful example of this region’s undefeatable spirit and its ability to roll up its sleeves and bounce back.“And it hasn’t happened by accident. We have used the hundreds of millions of pounds secured from government over the last six years to relentlessly deliver on our brownfield first commitment. This has helped transform dozens of former industrial sites – including Longbridge’s West Works – into quality, affordable homes and decent jobs for local people. This approach has also helped protect our precious green belt from the bulldozer.West Works is now being transformed into a vibrant, mixed-use of new homes, Longbridge Business Park and open spaces all linked by new cycling and walking routes. Critically, the River Rea, hidden for decades, has been re-naturalised for the first time in almost a century. The mile-long route will reconnect Rubery and Longbridge town centres. A riverside park is also being created to provide high-quality outdoor space and develop a sense of community and enhance biodiversity. The land is one of the most significant regeneration schemes in the UK, with the latest phase of development taking the total number of jobs delivered across Longbridge to a combined total of over 3,500 jobs to date, with many more to follow.“With a deep appreciation for the area’s rich history in technology and manufacturing, we are thrilled to be part of Longbridge’s growing reputation as a hub for science, technology, precision engineering and research and development. “As we embark on this exciting journey, we look forward to fostering growth, collaboration and creating more job opportunities within Birmingham and the wider West Midlands area.” To apply for funding email: invest@wmca.org.uk