The Black Country LEP has unveiled a £150m Black Country Land and Property Investment Fund (LPIF), which will support the clean-up of contaminated brownfield land and deliver supporting infrastructure for much needed housing, industrial and commercial developments.
The LEP has been awarded an initial £53m by the West Midlands Combined Authority (WMCA) to reinforce economic regeneration between 2018 and 2021. A further £97m will be granted for the following 6 years.
Historically renowned for excellence in manufacturing, engineering and innovation, the Black Country is undergoing a renaissance. It has exciting plans to rejuvenate 364 hectares of contaminated brownfield land, previously occupied by heavy industry, and create an estimated 12,000 jobs and 13,500 new homes.
The £53m grant will be used as part of a long-term land remediation and development programme to unlock areas for a Black Country Garden City, a High Value Manufacturing (HVM) City and the development of four strategic centres.
The difficulty in securing a mortgage against property in many areas of the West Midlands has seen professionals look for homes in the Black Country – where property prices are more affordable and transport links to Birmingham’s employment zones are good.
This situation has contributed towards the need for a review of the LEP’s housing projections, and forecasts now suggest 80,000 new homes need to be built by 2036. It has already earmarked for 60,000 but land for an additional 22,000 homes is required.
Bringing contaminated sites back into use will be crucial for the LEP to stay in tune with the rising population.
With a wealth of earthworks and value engineering experience, our team is well positioned to provide tailored remediation solutions to help clients release the potential in their brownfield site.
Our land remediation solutions, include: soil excavation, treatment and reinstatement within the scheme or disposal off-site; installation of a clean capping layer; through to the reuse of demolition, construction and excavation waste as well as soil stabilisation.
We offer a fully-compliant service that meets the latest construction and environmental legislative standards, reduces risk and provides cost savings.
To find out how we can help you release the potential in your brownfield site, fill out the contact form below or call us on 0121 554 2108 to talk with one of our experts.