The WMCA’S Commercial Investment and Residential Investment loan funds and remain “open for business”. They are continuing to accelerate site regeneration and support the long-term economic growth of the West Midlands. Since March 2020 a further £28.2m of property development finance has been approved from these funds alone, to develop new commercial and residential projects. A total of over 356,000 sq ft of commercial floorspace will be developed, with 80 new residential units created and over 22 acres of brownfield land remediated and brought back into economic use.
Since the funds were launched in late 2016, £182m of investment has been approved to support over 45 development projects across the West Midlands Combined Authority geography, bringing regeneration of brownfield sites, new housing and jobs to the area.