You are viewing 1 of your 1 free articles
WMCA launches taskforce to regenerate public land
The West Midlands Combined Authority (WMCA) has launched a taskforce of property experts to unlock some of the region’s 5,500 hectares of public land for regeneration and affordable housing.
The West Midlands Public Land Taskforce will aim to promote wider collaboration and best practice in the development and disposal of public land in the West Midlands at a faster pace, WMCA said.
WMCA said that publicly owned land in the region amounts to more than 5,500 hectares, which the authority said “represents a major opportunity to realise the economic value of these assets and ensure local communities and businesses benefit from their regeneration”.
The taskforce will be chaired by Stephen Barter, chair of Wilton Capital Advisers, who has more than 40 years of real estate experience as an investor, a developer and an advisor.
It comes after WMCA was awarded £24m of the government’s £40m National Brownfield Housing Fund in December. The authority also received a £100m grant for land remediation as part of the 2018 Budget in exchange for the promise to deliver 215,000 new homes over a 12-year period.
READ MORE
Andy Street, mayor of the West Midlands and chair of WMCA, said: “At the WMCA, we have identified that public land can play a vital part in our economic recovery from the COVID-19 pandemic.
“We have brought together senior leaders from the public and private sectors with expertise in land and real estate, convening to unlock the unrealised land potential in the public estate, in line with the recommendations of the West Midlands Land Commission report.
“By supporting the identification of surplus land to meet the additional housing and employment needs of the region and enable additional social infrastructure, the taskforce can offer insight into how land can be used to fast-track an inclusive economic recovery for the region.”
Mr Barter said: “By making better use of public land to meet local needs within the region for affordable homes and high-quality jobs in a more joined-up way, we want to create further shared achievements for the region and the communities who call it home.”
“In a region like the West Midlands, which has one of Europe’s youngest and fastest-growing populations, the future needs to be about partnerships to deliver more high-quality, affordable homes and related infrastructure to meet increasing demand.”
Sign up for our development and finance newsletter
Already have an account? Click here to manage your newsletters
