First glimpse of new Wolverhampton railway station

And now, after the Government promised millions of pounds for the ambitious project, here is a glimpse of the future of the city's railway station.

The names of the pizza restaurants, coffee shops and newsagents that council bosses hope will line the development may be fake, but the gleaming and modern transport 'interchange' is now fast taking strides to becoming a reality.

It is set to become the heart of the city's transport network at the centre of a £111.7 million regeneration in the city.

For years, people have been awaiting the start of the Wolverhampton Interchange - a project to combine rail, tram and bus services as well as restaurants, office space and shops.

The bus station was opened in 2011 at a cost of £22.5m but the rail station has been short of funding ever since.

The Coalition Government's transport secretary Patrick McLoughlin called the city's current rail station 'awful'.

But its transformation took a major leap forward this week when the Government promised £4.5m towards it through the Local Growth Fund.

The rail station revamp alone requires £40m but Wolverhampton City Council, transport authority Centro and private developer Neptune are still £22m short.

However it is understood they are close to a deal with the Government that would let them borrow the rest of the money and pay it back using the business rates from the shops, restaurants and other traders that open up at the Interchange.

It is hoped that the likes of Pizza Express, Costa Coffee and WH Smith will want to be there - although the logos and names used in the impressions are just to illustrate the types of companies that council chiefs want to woo.

Councillor Peter Bilson, Wolverhampton City Council's cabinet member for regeneration and enterprise, said: "The £4.5m awarded through the Local Growth Fund is very welcome news.

"It means we have secured around £18m of the £40m cost of refurbishing the railway station, building the new car park and constructing the Metro tram link.

"It also gives certainty to all the partners for moving the scheme forward and good progress is being made to secure the rest of the required funding.

"A detailed business model for the station has also been drawn up and is currently being tested with the Department for Transport. Talks are progressing well and we look forward to further announcements about this exciting redevelopment in the coming months."

A masterplan for the area, which will require tens of millions of pounds of private investment, would be to create three canalside 'pods' where bars or other businesses could open.

A hotel is also being given space next to the current multi-storey car park, which is to be extended and given a make-over.

The Midland Metro will be extended from its current terminus in Bilston Street, opposite the city's police station, past the bus station in Pipers Row and along Railway Drive, where it will go past the car park.

Emma Reynolds, Labour MP for Wolverhampton North East, has been campaigning for a new station to be built.

She said: "I am pleased that after several years of concerted pressure from me and the City Council, the government has announced that Wolverhampton will finally get a new train station as part of the creation of a fully integrated transport hub in the city.

"A new train station would be a tremendous shot in the arm for our city and is vital to the wider regeneration of Wolverhampton.

"This major gateway to Wolverhampton is key to the economic future of our city.

"While I welcome the announcement, it is vital that the government works closely with the City Council and other interested parties to make it a reality as soon as possible."

Plans for a major revamp of the rail station have been on the cards for the best part of a decade.

Building work was originally scheduled to start in 2008 but has been delayed by funding shortages.

The original £176 million price tag has been dramatically revised over the years as the new plan is to re-model the existing car park, rather than demolish it and put a car park on the roof of the rail station building itself.

The rooftop plan would have meant the need to place construction machinery on the rail tracks themselves during the construction phase, causing major disruption.

The former Labour government approved funding for the bus station part of the development just before it lost power.

The new bus station has a Sainsbury's Local and space above for offices.

Various attempts to secure money, including bidding to the Coalition Government's Regional Growth Fund, were rebuffed.

However, developer Neptune has brought forward plans for a new office block next door to the bus station, costing £10.6 million and funded by borrowing by Wolverhampton City Council.

The £4.5m from the Local Growth Fund is the most significant step forward in years in terms of money released by central government.

What do you think of the plans? Join the debate in the comments section below.

See also:

• Wolverhampton train station is just the start of the regeneration journey

• £221m boost for Black Country and Staffordshire - bringing 11,000 jobs and 2,000 new homes

• No cash for long-awaited Wolverhampton station rebuild