Wolverhampton £10.6m shops and offices scheme approved
- 26 September 2013
- From the section Birmingham & Black Country
A £10.6m project to create new shops and offices in Wolverhampton has been approved.
A new building at the Interchange next to the main city centre bus station was anticipated to be ready by summer 2015.
About 250 jobs would be safeguarded or created as a result of the scheme, the council anticipated.
The authority, whose cabinet approved the £10.6m investment, announced earlier this month that 1,000 council jobs could be cut by 2015.
The council said the move was necessary to avoid a deficit of £89m by 2019. It has blamed cuts in central government grants.
Council cabinet member for economic regeneration and prosperity Peter Bilson said: "The current economic climate is extremely tough and the authority itself is facing huge financial pressures of its own.
"While we have a responsibility to deliver a balanced budget, taking into account these pressures, we also have a duty to meet key aims and objectives and boosting confidence in regenerating our city is one of them."
Work on the new development was expected to start in the spring next year.
The retail space could include restaurants and coffee shops and potential tenants had already been identified, the council said.