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City names the date for Paradise Circus redevelopment

City names the date for Paradise Circus redevelopment

🕔24.Jul 2012
English: Paradise Forum, Birmingham Central Li...

Work is set to begin on the first phase of the long-awaited Paradise Circus redevelopment in 2016, Birmingham City Council has confirmed.

The biggest regeneration scheme since the new Bullring shopping centre was built a decade ago will be financed partly through a city centre Enterprise Zone business rate retention scheme as well as private sector funding.

The Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) will be able to borrow against a stream of business rates paid by firms moving into the area over a 25-year period.

This will generate £82.3 million for Paradise Circus and £40 million for other projects.

These include taking the city centre Metro extension from New Street Station to Broad Street and redeveloping the 21-acre Wholesale Markets site in Digbeth.

The first phase of the Enterprise Zone from 2013-18 could be worth

£128 million for city centre improvements, generating 7,231 jobs and development with a gross value of £375 million.

Brindleyplace developers Argent, who have signed an exclusivity agreement to work with the council to transform the Paradise Circus site, expect clearnace work will begin in 2015, including demolition of the Central Library and Paradise Forum.

All existing buildings, including the Copthorne Hotel, former government offices and the Conservatorie are likely to be demolished to make way for 126,000 sq ms of grade A office space.

The Paradise Circus scheme was first proposed in 2001, but economic recession and a collapse in property values prevented progress from being made until now.

As well as providing quality office space, the project will fundamentally restructure the highway network in the immediate area creating better linkages for pedestrians and transforming the wider business environment, according to GBSLEP.

New pathways will be created making it easier to walk from New Street to Centenary Square and from the Jewellery Quarter to Colmore Row.

A planning application for Paradise Circus will be submitted to the council by the end of July following wide-ranging discussions between Argent and conservation groups about the sensitivity of new-build in Birmingham’s historic civic heart.

A report to the council cabinet makes it clear that Argent have compromised since initial proposals were published.

The overall height of the proposed buildings and the scale of development have been reduced to meet concerns raised by the Civic Society, the Victorian Society and CABE, the Commission for Architecture and the Built Environment.

 

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