Urban&Civic signed the official development agreement with the City of Wolverhampton council earlier this month for the 6.4-acre Westside redevelopment.
Plans for phase one include a multiplex 12-screen cinema, 90,000 sq ft of additional leisure and restaurants, a 100+ bedroom hotel and a multi-storey car park.
“Council-led enabling works continue and there appears good demand from anchor occupiers,” said Urban&Civic chief executive Nigel Hugill today.
“Construction on the first phase remains subject to funding but is on track to start in early 2018, completing within two years,” he said.
Phase 2 is for more than 300 new city centre homes and 50,000 sq ft of retail and leisure space. Works on this section of the development are likely to be completed in 2022, the developer said.