The West Midlands Combined Authority (WMCA) has today (Friday Dec 8) signed off almost £50m to support the Wolverhampton Interchange project.
Led by a consortium of partners including City of Wolverhampton Council, the Interchange will create a new railway station connected to an extended tram network via a new stop outside the railway station.
Building on the development of the new multi-storey car park, it will enable the delivery of 30,000 sq m of office, retail and leisure floor space, £80m of private sector funding and create 1,300 new jobs.
Following today’s decision by the Board of the WMCA, Andy Street, Mayor of the West Midlands, said: “This project is about more than just creating a transport hub, where buses, trains, trams, cycling and walking come together and provide enhanced links to the new HS2 network.
“This is also about accelerating the regeneration of Wolverhampton city centre, bringing jobs, opportunities and growth. Simply, this is one of the key gateways into the city, a city that deserves a world-class welcome.
“The WMCA recognises the vital role this project plays in the ongoing success story of Wolverhampton, which is why we were enthusiastic in supporting the project."
City of Wolverhampton Council leader, Cllr Roger Lawrence, said: "This key funding contribution means everything is now in place for the Wolverhampton Interchange Partnership to push ahead with the development of the city's new railway station.
"The people of Wolverhampton can look forward to seeing the emergence of a station befitting of their city.
"There is £3.7 billion of investment currently on site or in the pipeline across the city and, as part of this regeneration, it is crucial visitors to Wolverhampton get the best first impression possible and their travel experience is enhanced. This new state-of-the-art station will deliver that.
"It has major significance by better connecting Wolverhampton to the UK's high-speed rail (HS2) network, in turn helping create jobs, opportunities and growth in the city."
Wolverhampton Interchange Partnership consists of City of Wolverhampton Council, Ion Development (formerly Neptune Developments), Virgin Trains, Midland Metro Alliance, Network Rail, West Midlands Trains, Canal & River Trust and West Midlands Combined Authority.