Infrastructure development company Lendlease has been selected as a partner for the £1.5bn ($2.7bn) Birmingham Smithfield site redevelopment project in the UK.
The company will form a contractual joint venture (JV) with the Birmingham City Council to deliver the project.
The City Council chose Lendlease following an OJEU competitive dialogue procurement process.
The proposed redevelopment will include the creation of an urban quarter that will feature the city’s historic Bull Ring retail markets, and a family destination with cultural and leisure attractions.
The site will also feature a new public square, integrated public transport and more than 2,000 homes with a public park and community facilities.
Lendlease will form a contractual JV with the City Council and create an urban quarter that includes a new home for the city’s historic Bull Ring retail markets, a unique family destination with leisure and cultural offerings, a new public square, integrated public transport and more than 2,000 homes with a public park and community facilities.
Birmingham City Council leader councillor Ian Ward said: “The delivery of Birmingham Smithfield will be a major boost for Birmingham. With the new cultural and leisure attractions, the public realm, new homes and retail markets the development will appeal to both national and international audiences.
“Alongside these fantastic new facilities, the development will also deliver substantial benefits for the people of Birmingham. Lendlease has committed to invest in the local community and create 1,000s of new jobs and training opportunities.”
The development of the 17ha Birmingham Smithfield site is part of the city’s Big City Plan, which outlines a 25-year plan to expand the city centre by more than 25%.
Located near the Bullring and New Street Station, Birmingham Smithfield is also close to the new High Speed 2 City Centre Terminus Station, which is anticipated to become operational in 2026.
Development of the site is expected to begin in 2022, with completion projected to take place within 15 years.
The next steps include finalising the terms of the partnership between the City Council and Lendlease, preparation of a planning application, and creating a business plan for the redevelopment project before a formal contract is signed.