The Birmingham East Mayoral Development Corporation (BEMDC), unveiled by West Midlands Mayor Richard Parker earlier this month, is intended to speed up investment by combining planning, land assembly, infrastructure funding and development powers under a single body.<\/p>\n
The \u00a311bn figure includes a mixture of government-backed infrastructure projects, council-led regeneration schemes and privately funded commercial and residential developments.<\/p>\n
Much of the public investment will be focused on transport and infrastructure, particularly around HS2 Curzon Street Station and the proposed Metro tram route, while private capital is expected to fund large parts of the residential, commercial, leisure and mixed-use development linked to those schemes.<\/p>\n
Among the biggest projects are the \u00a34bn Birmingham Knowledge Quarter, which is intended to expand the city\u2019s life sciences, education and research sectors, and the \u00a32bn Smithfield regeneration scheme next to the Bullring, where plans include homes, offices, leisure space, markets and public squares on the former Birmingham Markets site.<\/p>\n
The MDC area also includes HS2\u2019s Curzon Street Station and the adjoining Central Heart development site, which is expected to deliver new homes, offices, public space and improved connections between Curzon Street, the Bullring, New Street Station and the Colmore business district.<\/p>\n
Meanwhile, Birmingham City FC\u2019s proposed \u00a33bn Sports Quarter includes plans for a new 60,000-seat Powerhouse Stadium, entertainment venues, housing and wider commercial development linked to new transport infrastructure in East Birmingham.<\/p>\n
The Sports Quarter project is being driven by Birmingham City FC\u2019s US owners Knighthead, while the Knowledge Quarter forms part of wider university, research and commercial investment tied to Birmingham\u2019s education and life sciences sectors.<\/p>\n
Together, the developments are expected to support more than 20,000 homes and 50,000 jobs.<\/p>\n
The role the MDC will play in this is to simplify the large-scale regeneration of the city by creating a single organisation responsible for planning, land assembly and delivery co-ordination, reducing the need to navigate multiple authorities and agencies.<\/p>\n
\u201cThis MDC is big, bold and ambitious, reflecting Birmingham\u2019s position as the UK\u2019s second city,\u201d says Richard Parker, Mayor of the West Midlands.<\/p>\n
\u201cIt will be a magnet for investment, de-risking major projects while providing the stability and continuity needed for investor confidence.<\/p>\n
\u201cIt will also cut through red tape, so we waste no time getting spades in the ground on these hugely significant regeneration schemes.\u201d<\/p>\n
The launch took place at the UKREiiF property conference in Leeds following government approval for the project, which is being positioned as one of the UK\u2019s biggest regeneration programmes since the London Legacy Development Corporation helped transform parts of East London after the 2012 Olympics.<\/p>\n
Joanne Roney CBE, Managing Director of Birmingham City Council, says the MDC would help strengthen Birmingham\u2019s position as a major UK investment destination.<\/p>\n
\u201cThe MDC will enable and accelerate developments in the heart of the city and in East Birmingham that will transform lives, creating tens of thousands of jobs, thousands of homes and adding billions to the local economy,\u201d she says.<\/p>\n
\u201cIt positions our city as one of the most attractive and competitive city centres in the UK \u2013 there has never been a better time to invest in Birmingham.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Britain\u2019s biggest Mayoral Development Corporation (MDC) has been launched in Birmingham in a bid by regional leaders to unlock more than \u00a311bn of housing, transport and commercial regeneration projects in East Birmingham and the city centre. The Birmingham East Mayoral Development Corporation (BEMDC), unveiled by West Midlands Mayor Richard Parker earlier this month, is intended… Read more »<\/a><\/p>\n","protected":false},"author":4233,"featured_media":6107699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[59,197,2,61,179,4,765,42],"tags":[],"class_list":["post-6107696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending-news","category-birmingham","category-buy-to-let-landlords","category-construction","category-expert-advice","category-investment","category-property-investment","category-regeneration"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6107696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/4233"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=6107696"}],"version-history":[{"count":2,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6107696\/revisions"}],"predecessor-version":[{"id":6107698,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/6107696\/revisions\/6107698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/6107699"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=6107696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=6107696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=6107696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}