The redevelopment of Wolverhampton bus station has become the first project in the West Midlands region to be awarded money through Advantage West Midlands’ Regional Infrastructure Fund, administered on behalf of the Department for Transport (DfT).
Advantage West Midlands has approved £9.8 million of funding for Wolverhampton City Council for the £22 million Phase 1 of the Interchange project. The project will transform the transport infrastructure of the City, unlocking the development of new office and retail space, starting with the redevelopment of the bus station.
The regional development agency has committed £12 million of its own funds to the RIF, while the Department for Transport contributed a further £28 million for key transport projects in August 2009.
Due for completion in Spring 2011, the RIF money will be used to clear the current site and redevelop a new bus station in its place, while providing temporary facilities during the construction of the new facility. The money will also facilitate the refurbishment of the listed Queen building and the development of retail and leisure floor space on the site.
In addition to the new bus station, Phase 1 of the Interchange project will deliver improvements to local highway infrastructures and public realm areas. A new pedestrian bridge linking the new bus station with the train station will also be developed under Phase 1, as will improvements to the Cornhill bridge for vehicle access.
Mark Pearce, Corporate Director for Economic Regeneration at Advantage West Midlands said: “A RIF grant has been awarded for the redevelopment of the bus station to provide Wolverhampton with a high quality, efficient transport infrastructure which will help support the city’s future economic growth by providing improved access to jobs and services.
“Understanding the importance of Phase 1 of the Interchange project as a catalyst for the wider regeneration of Wolverhampton city centre, the Agency has worked hard to get funding quickly secured for this project and we are delighted that this persistence has paid off and that work will soon be starting on site.
“Given the current economic climate, providing access to the funds required to enable developments like the regeneration of Wolverhampton City Centre to move forward is critical to securing private investment and ensuring regional economic recovery.”
Wolverhampton City Council leader, Councillor Neville Patten said: “We welcome the support and funding from Advantage West Midlands. This development is a good example of the partnership working between the Council and Advantage West Midlands.”
The wider Interchange project, which includes major improvements to the train station (Phase 2), is fundamental to the regeneration of Wolverhampton city centre. As such, it is an integral part of the master planning process, which will be funded by Advantage West Midlands through the Wolverhampton Development Company.