Almost £1 billion of investment is being committed to redevelop a part of Birmingham that is set to be transformed by the arrival of HS2 in the city.
The Curzon Investment Plan is an ambitious 30 year strategy to unlock and regenerate the 141 hectares of land around the planned HS2 Curzon Street Station, led by the Greater Birmingham & Solihull LEP & Birmingham City Council.
Creating 36,000 jobs, 4,000 new homes, unlocking 600,000 sqm of commercial floor space and connecting the eastside of Birmingham to the rest of the city and beyond; the investment is the first major financial commitment by any local area in the country to use HS2’s arrival as a catalyst for regeneration. It also has the potential to add £1.4 billion to the local economy.
Plans include the development of Curzon Street Station itself, several new neighbourhoods, offices and retail spaces. The creation of stunning public places such as the Curzon Promenade and Curzon Square – which will incorporate the original Curzon Station, a Grade I listed building.
In total £907 million is being allocated to a variety of projects, and is made up of £586.8 million from the GBSLEP, which draws funds from business rates within the Enterprise Zone and £137.2 million from the newly formed devolved government, West Midlands Combined Authority.
A further £183.3 million towards the cost of delivering Metro extension projects, connecting the eastside of the city to central Birmingham and out to Birmingham International Airport and Solihull, where another HS2 station, an interchange, is planned.
Theresa May, Prime Minister said: “I’m delighted that Greater Birmingham is making this investment in the future, working to maximise the potential of HS2 by investing in jobs and housing – and encouraging more business investment. It was in Birmingham where I outlined my plan to build an economy that works for all, with a proper industrial strategy that delivers prosperity, job creation and higher wages across the country, not just in London.
“That’s what the Curzon Investment Plan aims to do in Greater Birmingham, and my Government is right behind them.”
The Curzon Investment Plan responds to the strategic direction set by the Curzon Masterplan, launched in February 2014, which is the city’s vision on how to fully integrate the city centre station alongside a package of wider interventions to unlock significant development opportunities across a large part of Birmingham’s city centre.
Both plans sit Curzon within the region-wide HS2 Midlands Growth Strategy based on £4.4 billion of investment which will deliver new transport infrastructure and major economic growth.
The regeneration and investment in infrastructure that the Curzon Investment Plan will deliver is also set to benefit other transformational projects currently underway or being developed in the city centre, including:
- The £500 million creation of Birmingham Smithfield – a vibrant new retail, leisure and residential space
- The £1 billion Southern Gateway – an ambitious mixed use development; a new cultural quarter’ in the eastside of the city called the ‘Knowledge Hub’;
- The £600 million development of city’s professional centre around Snow Hill – which is set to create 2.2 million sq ft of office space and 4,000 jobs
For more details please visit http://www.birmingham.gov.uk/birminghamcurzonhs2