City of Wolverhampton Council has completed a land transaction agreement with developer Placefirst for the Canalside transformation project in England, UK.

The developer will now manage the city centre's brownfield site at Lower Horseley Fields, near Union Mill Street.

Placefirst has already received full planning approval for the development of 366 new housing units and commercial space in Wolverhampton’s Canalside Quarter.

Wolverhampton Council leader and councillor Stephen Simkins said: “Placefirst will deliver a nationally significant development that not only brings back into use a large parcel of brownfield land but also enables the city to take advantage of our fantastic waterways and the heritage that comes with it, to provide a sustainable community where people want to live and work, now and in the future.

“The scheme will also generate local jobs and boost our economic recovery.”

As part of a larger redevelopment project in the region, the development will create a new riverside community in collaboration with Wolverhampton Council, Canal and River Trust, and West Midlands Combined Authority.

Construction works are set to begin next year.

The development, designed by architect jmarchitects alongside WSP as planning and heritage specialists, will see the sensitive restoration of cultural assets and important environmental improvements.

The initiative will also include a new promenade, public open spaces, and pedestrian access to the canal towpath.

Placefirst CEO David Mawson said: “With this transformative new development, our goal is to deliver a new neighbourhood that both future residents and the wider Wolverhampton community can enjoy and take pride in.”