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£100 million for a city centre development in Coventry
The West Midlands Combined Authority (WMCA) has approved almost £100 million funding for a city centre development in Coventry.
The much anticipated City Centre South scheme includes a major retail, residential and leisure scheme, with a top name anchor store, new homes and a cinema.
Cllr Izzi Seccombe, finance and investment lead on the WMCA Board approved a grant of up to £98.8 million for the project, which was first discussed in 2011.
Cllr Bob Sleigh, WMCA chair, said: “This is a great example of how our devolution deal is beginning to have a real impact – and this funding would not be available without the combined authority.
“Yes we are here to set policy - but we are also here to make a difference to people’s lives in ways they can see and feel, with more jobs, a growing economy and better quality of life. Supporting projects on this scale is key to that aim and this comes hard on the heels of last week’s announcement of major investment in Kingswood in Cannock.”
Cllr George Duggins, leader of Coventry City Council, added: “I'm delighted that the combined authority has approved £98.8 million investment for the redevelopment of our city centre.
"We've got ambitious and exciting plans for City Centre South, which will include new shops, a cinema, homes and a new car park that will transform the area around Bull Yard, Shelton Square and Market Way.
"Coventry people have waited too long for improvements to the city centre. But this cash is a real boost and will mean we can crack on and select a developer. We said we would make sure that our residents felt the benefits of our membership of the Combined Authority and this is the first cash boost, with more to come."
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