The council will now seek to appoint a development partner to drawn up a masterplan to deliver family housing alongside enhanced public spaces, pedestrian routes and community facilities.
The city centre estate was largely built in the 1960s and has around 1,000 homes, two-thirds of which are owned by the council.
The city’s population is forecast set to grow by 10% over the next 15 years, creating a pressing need to deliver more affordable, family housing within accessible locations.
Corporate Director for Economy, Waheed Nazir, said, “It has always been our intention, since we launched the Big City Plan in 2010, to bring forward a housing-led regeneration initiative for the Ladywood area.
“With Birmingham now enjoying a significant renaissance, there is an opportunity to secure a partner who shares our ambition to deliver more family housing and create a high-quality sustainable place for current and future residents. We will be launching a procurement process to find a partner shortly.”
The City Council has also submitted plans for the second phase of the regeneration of Perry Bar to be built after the Commonwealth Games.
The 12-hectare site would accommodate around 400 new homes, associated public open space and a new secondary school for 1,260 pupils.
The area, between Holford Drive and Aldridge Road in Perry Barr, is adjacent to the site of the former Birmingham City University Campus – already being demolished to make way for the residential element of Birmingham 2022 Commonwealth Games Village, which will then be converted into 1,400 new homes for the public post-Games.
The Phase Two site is only due to come forward for development after the Games, as it will initially form part of the Athletes’ Village, accommodating a number of Games-time facilities such as the athletes’ dining hall and other temporary facilities.