Lendlease has been announced as Birmingham City Council’s partner for the £1.5bn redevelopment of its Smithfield site.
The Australian multinational will form a contractual joint venture with the council and lead the creation of an urban quarter that includes a new home for the city’s Bull Ring markets, a leisure and cultural area, new public square and more than 2,000 homes.
The 17 ha Birmingham Smithfield site will be located close to the city centre’s HS2 station, which is set to open in 2026.
Birmingham council leader Ian Ward said: “Lendlease have committed to invest in the local community and create thousands of new jobs and training opportunities.
“This scheme will create a legacy for the citizens of Birmingham and become an exemplar for inclusive economic growth.”
Lendlease chief executive for Europe Dan Labbad said the development would, “bring more jobs, homes and environmental benefits to the area and the people of Birmingham”.
A joint statement from Lendlease and the council said the pair will now work to finalise the terms of the partnership, start a planning application and produce a business plan.
Work is expected to start in 2022 and take 15 years to complete.