Great news locally with the commencement of Phase 1 of the Interchange scheme on site in mid–November. This Phase will involve the construction of a new bus station and commercial development to the value of some £23m and should be completed in the summer of 2011.
Given the scale of the downturn, the start of Phase 1 represents a real step forward for the city. I think this is a reflection of the confidence that investors are showing in Wolverhampton.
Of course, the most important scheme for Wolverhampton remains Summer Row, the £250m city centre retail development. Needless to say, we at Wolverhampton Development Company continue to work tirelessly with our partners and Multi, the developer, in an attempt to secure the requisite finance for it to proceed on site. I believe that 2010 will bring real progress on getting Summer Row to the start line.