Birmingham Council and Argent have entered an exclusivity agreement to redevelop Paradise Circus in Birmingham’s Westside Regeneration area.
The partners finalised the agreement at a cabinet meeting on Monday.
Argent and the Council own or lease the majority of the land and are in talks with Birmingham City University (BCU) and the Copthorne Hotel over entering into a joint venture to deliver the scheme.
Councillor Neville Summerfield, cabinet member for regeneration, said: ‘Redeveloping Paradise Circus is a key component of our on-going plans to regenerate and reinvigorate vital areas of the city centre.
‘The current site forms a critical pedestrian link between the traditional commercial and retail areas of Birmingham and the newer commercial and cultural areas in the Convention Quarter and Brindleyplace, however, its current design impedes rather than encourages the way in which people move through these areas of the city.
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