The deal was struck with Arden Cross Limited, a special-purpose delivery vehicle created by landowners Birmingham City Council, Packington Estate and Coleshill Estate to drive forward the 346-acre regeneration site located alongside the NEC campus, Birmingham Airport and Birmingham International station.
Eventually Arden Cross will provide 3,000 new homes, up to 6m sq ft of employment space and up to 27,000 new jobs.
Muse will bring forward the first phase of development as early as 2025 and could see a range of facilities and employment opportunities created.
The link up with Muse comes swiftly after Arden Cross Limited recently signed a Memorandum of Understanding (MOU) with University Hospitals Birmingham (UHB) and with the University of Warwick to explore opportunities for bringing forward a new Medical & Technology Campus to deliver world-beating innovation in the healthcare and technology sectors.
Maggie Grogan, Development Director for Muse, said: ‘This is a truly unique opportunity to bring forward a landmark destination for the UK that’s a beacon for growth in the Midlands and we’re immensely proud to be joining the team.
“As a business, we’re committed to delivering sustainable regeneration at pace, while at the same time bringing real, tangible benefits to communities and we can’t wait to get started.”
Ben Gray, Project Director with Arden Cross, said: ‘Arden Cross is focused on delivering sustainable growth for the region and the whole of the UK and we know Muse will help us achieve this. We’re committed to working together to capitalise on the masterplan principles and deliver transformational change for the region while creating a world leading economic hub for the UK in a unique public-private partnership that leverages the superb connectivity of Arden Cross.’