More than 5,000 jobs are expected to be created by a £45m pioneering regeneration scheme planned by Advantage West Midlands and Birmingham City Council.
Bulldozers have begun clearing the site at the Ventureast development at Eastside on the outskirts of Birmingham city centre in preparation for building work starting in 2009, subject to planning permission being secured for what will be one of the biggest regeneration schemes in Europe.
The 16-acre development is a pioneering joint venture between the regional development agency and the city council with the aim of building a one million sq ft high quality, sustainable mixed-use scheme that will boost the wider regeneration of Birmingham’s Eastside area
The city council and Advantage West Midlands have worked closely together to assemble the Ventureast site, which is adjacent to Millennium Point, with extensive frontage onto the canal, the new City Park and the ring road.
Arlington Securities has been appointed to carry out the development and the proposed mixed-use scheme will anchor the proposed Learning and Leisure Quarter and the City Park, as well as assist with the integration of Millennium Point as part of the city centre. Mick Laverty, deputy chief executive of Advantage West Midlands said: “Ventureast is one of the most exciting development opportunities anywhere in the West Midlands or in Europe and represents a once-in-a-lifetime chance to create a sustainable scheme that will serve Birmingham for generations.
“There was intense competition to take on this development and Arlington offered a scheme which exceeded our requirements for this important site, and we are delighted to be working with them.”
Jim Johnston, head of Arlington’s UK development team said: “Ventureast represents an exciting opportunity. We are delighted to be appointed to work in partnership with Birmingham City Council and Advantage West Midlands on this important and exciting regeneration scheme.We look forward to delivering a sustainable mixed community that will integrate with the wider regeneration of Eastside, boost the local economy and provide an environment for growth.”
Cabinet member for regeneration Cllr Ken Hardeman said: “Working in such a positive way to add to Masshouse, City Park Gate and other projects has given the market more confidence that Eastside continues to be a fantastic development.”
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