Economic analysis by Urban&Civic’s planning consultant, Lichfields, shows the Westside development first phase could deliver almost 1,000 jobs to the City of Wolverhampton.
A multiplex cinema, 50,000 square feet of additional leisure space, new restaurants covering 40,000 square feet, a 100-plus bed hotel, and a multi-storey car park are lined up on and around Market Square.
It is anticipated 430 new jobs will be created once all of phase one is open to the public - and more than 500 construction jobs will be available during its two-year build.
Urban&Civic last week submitted an official planning application for the first phase and the latest jobs figures come as major boost during Wolverhampton Business Week.
Strong demand from occupiers means construction remains on track to start in 2018.
Councillor John Reynolds, Cabinet Member for City Economy, said: “These figures show just how this type of investment not only regenerates the city – but also impacts on people’s lives by delivering jobs.
“Business Week is highlighting the £3.7 billion of investment that is on site or in the pipeline in the City of Wolverhampton and there is a general enthusiasm around the Westside opportunity.
“Urban&Civic possess an excellent track record in delivering comparable high-quality schemes in the UK and have the financial support in place.”
Construction on phase one of the project is expected to be complete by early 2020. It encompasses land between Penn Road Island and Salop Street, including the current School Street and Peel Street car parks and the area around Market Square.
Philip Leech, Property Director for Urban&Civic, said: “Our ambition is to deliver a scheme at Westside which transforms this part of the city centre, creating new jobs and providing a sustainable development that people enjoy visiting for many years to come.”
Issued by the City of Wolverhampton Council’s Corporate Communications Team. For more information, please call 01902 555439.
Image caption: Artist’s impression of the Urban&Civic Westside development at night.