'It's Wolverhampton's time to shine,' says developer as work to start on £150m regeneration scheme

James Dickens, managing director of Wavenmere Homes, said it was 'Wolverhampton's time to shine' as he announced to business leaders that plans for more than 530 new homes had been approved by Wolverhampton Council today.

The 17.5-acre former industrial site, fronting the Essington and Birmingham Main Line canals, will also include commercial development and seven acres of green space.

The site, off Qualcast Road, encompasses the former Crane Foundry and British Steel site, and has lain empty for 15 years.

Blocked-up railway arches will be reopened to improve links between the site and the heart of the city, and also to provide 14,400 sq ft of commercial space, including a microbrewery.

Mr Dickens said the site's location, just 300 yards from Wolverhampton railway station, would be crucial to the scheme's success.

"That was a big driver to me, that connectivity through to Birmingham, 16-17 minutes by train.

"The high property prices we are seeing in Brum now is simply unattainable for a lot of young people.

"This 'ripple' effect we hear so much about is starting to take shape and is starting to build up pace.

"It's now Wolverhampton's time to shine.

"We will now be on site before this year is out."

Councillor Stephen Simkins, leader of Wolverhampton Council, said the project was fundamental to the authority's 'brownfield first' strategy.

He said the council had a target of building 6,500 homes on brownfield sites in the city, representing £2.6 billion worth of investment, and supporting 4,000 jobs.

"Bringing life back to the redundant sites along our canal network is critical to boosting footfall into our city centre.

"The impact on spending power of 6,500 new homes is potentially worth £79 million," he added.

"As one of the largest new housing developments in the Midlands, Wavensmere’s £150 million investment will enable Wolverhampton residents to benefit from superb connectivity, amenities, and health-and-wellbeing opportunities at this wonderful heritage location."

Wavensmere Homes will construct 378 two-and three-bedroom terraced houses, along with 145 one- and two-bedroom apartments. A building of 10 'co-living units' – each containing six bedrooms and communal living space – will provide affordable living to young professionals.

Mr Dickens said 54 of the houses and 80 apartments and co-living bedrooms would benefit from waterside views.

The news was welcomed by Andrew Chandler, development manager at the Canal & River Trust, which manages the canals.

“Canalside South will positively influence the quality of future development around our canals," he said.

"It will also demonstrate the positive impact that water has on those who live and use the waterways, encouraging more people to engage with their local canal and at the same time help support what we do as a charity and show that life really is better by water."