The Canalside South development will see 530 homes built on a 17.5 acre former industrial site in the city centre, with 20% of these properties designated for affordable housing.

The waterfront site has lain derelict for 15 years and is made up of Canal & River Trust-owned former Crane Foundry site and the council’s former British Steel site.

Out of the 530 homes, Wavensmere will build 378 two and three-bedroom townhouses and 145 one and two-bedroom apartments. A building of 10 co-living units, each containing six bedrooms, will also be constructed and aimed at young professionals.

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All properties will be built with EV charging points, with EPC-A specifications targeted throughout. The developer is also aiming to use railway arches on the site to create 14,400 of lettable commercial space.

“As a timeline, Wavensmere was announced as the new developer for this nationally significant project last December, and we are now in a position to confirm that we will be starting work at Canalside South before the year is out,” said James Dickens, managing director at Wavensmere Homes.

“It’s the level of proactivity and can-do approach that made this happen, which has been brought about through a shared vision, great people, and the council’s strong leadership team at the helm.

“As a result of this positive and efficient experience, we are committed to invest a lot more in the City of Wolverhampton.”