A plan to regenerate the Snow Hill and Colmore areas of the city centre and replicate the success of London’s Canary Wharf is set to be adopted.
The Snow Hill masterplan is a £600 million scheme aimed at transforming the business district and bringing in further investment from global business, professional and financial services firms.
The 20-year plan provides a framework to create 10,000 new jobs, generate over 200,000 sqm of new office space and boost the economy by more than £600 million a year.
Public consultation into the masterplan was carried out in February and March this year, with the response being overwhelmingly supportive. The plan itself has been amended where necessary to take into account any significant changes.
Cabinet are now being asked to formally adopt the plan, which was launched by city council and Colmore Business District, as the vision and framework to guide the future development of the area.
Councillor Tahir Ali, cabinet member for Development, Transport and the Economy, said: “This bold and exciting masterplan is about setting out our shared vision for the future development of this key city centre district, maximising its potential and making the most of the opportunities available to help boost economic growth in Birmingham.
“The response to the public consultation has been fantastic and I am delighted that we have now reached the stage where the plan can be formally adopted by cabinet.”
Cabinet members will consider the report at their next meeting on October 20.