Wavensmere Homes has unveiled detailed plans and new CGIs of its £150 million proposals to develop the 'Canalside South' project in Wolverhampton.
The former industrial site, which fronts onto the Wyrley & Essington Canal, is set to be home to more than 500 homes and a range of commercial amenities over 17 acres.
Wavensmere Homes is proposing to build around 380 townhouses and 140 apartments along with 7,000 sq ft of commercial space in disused railway arches.
The scheme is also set to open up a new walkway to the city centre, reducing the previous time on foot by 20 minutes. Subject to consent, the construction programme is set to create around 100 jobs.
The development site sits on the eastern edge of the city centre and is made up of the former Crane Foundry which is owned by the Canal & River Trust.
There is also City of Wolverhampton Council's former British Steel site and its land off Qualcast Road. A public consultation has now been launched and runs until June 28.
James Dickens, managing director of Birmingham-based Wavensmere Homes, said: "We are excited to reveal our plans and visuals for Canalside South which illustrate the transformational impact this regeneration project could bring about.
"The £150 million of investment and different housing typologies we are proposing will be the catalyst for a new wave of ambitious city living which is vital to see the Wolverhampton pound spent locally.
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"Our team has a strong history of regenerating vacant land in the Black Country and we are preparing to transform this site into a landmark development that the whole region can be immensely proud of."
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City of Wolverhampton Council leader Cllr Stephen Simkins said: "The comprehensive plans being put forward by Wavensmere Homes for Canalside South reflect the national significance of this development opportunity which occupies one of the most historic stretches of canal in the country.
"The redevelopment of this prime site will enable our residents to benefit from superb connectivity, amenities and health and wellbeing opportunities at this wonderful heritage location."
Andrew Chandler, development manager at the Canal & River Trust, added: "Canalside South has the potential to influence the quality of future development around our canals.
"It will also demonstrate the positive impact that water has on those who live and use the waterways, encouraging more people to engage with their local canal and at the same time help support what we do as a charity and show that life really is better by water."
To find out more about the scheme and to leave comments as part of the public consultation visit the project website.