The huge 20-year project will see the ageing 1960s estate in the city centre transformed with up to 7,500 new homes, green spaces, better transport links and new community facilities.

The development agreement, signed more than two years after being named preferred bidder, confirms at least 70% of existing homes will be either refurbished or rebuilt in a single move to reduce disruption for residents. At least 20% of the new homes will be affordable.

Detailed design work will not get underway to finalise the ambitious plan with construction now due to start until 2028.

The council has vowed to minimise demolition and avoid compulsory purchase of private homes wherever possible.

The regeneration scheme covering a 60-hectare site could deliver 10,000 full-time jobs and 1,000 apprenticeships.

Cllr Sharon Thompson, deputy leader of the council, said: “This is a once-in-a-generation chance to deliver a greener, better-connected Ladywood with new and improved homes for all.”

St Joseph md Stephen Kirwan said “Our St Joseph team is hugely proud and excited to be given this opportunity to work on the regeneration of the Ladywood Estate in consultation with the local community and council.

“At Berkeley Group we fully support the Government’s mission to increase housing delivery across the country and this hugely important regeneration project reflects our commitment to delivering good green homes where they are needed most.“