Now, as part of its nationally acclaimed brownfield regeneration programme, the WMCA Board has agreed in principle to make an investment to kick-start the aparthotel scheme, which is expected to create more than 70 jobs.
It will be the latest in a series of WMCA investments using money it has secured from Government to provide new homes, jobs and commercial spaces on urban, brownfield sites, helping to support the region’s economic recovery from Covid 19 while reducing pressure on the green belt.
The Board’s decision will now trigger detailed negotiations between the WMCA and the developers to finalise an investment deal.
Andy Street, Mayor of the West Midlands and chair of the WMCA, said: “Murdoch & Pitman is an iconic city centre building with a glorious history. This scheme will breathe new life into the building and the area, helping to safeguard a valued part of our local heritage.
“It is also yet another example of how the WMCA is putting its funding to good use to help drive forward a successful economic recovery from Covid-19 by transforming brownfield sites into new homes and communities, creating vital jobs in the process.”