Birmingham regeneration project saved by LEP funding
0The Greater Birmingham and Solihull Local Enterprise Partnership has provisionally agreed to bail out the troubled £700m Paradise Birmingham regeneration scheme.
Before Christmas, it was reported that the scheme was short of £50m due to spiralling costs.
A statement from the LEP said: “After a thorough due diligence process, the GBSLEP board has provisionally approved additional funding for Paradise worth £51m.
‘This decision is subject to the formal governance process being completed in early 2019.’
The project includes 10 new office buildings, a hotel, public spaces and 550 car parking bays between Centenary Square and Victoria Square, as well as shops, restaurants and cafes.
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