The Enterprise Zone Partnership Board and Birmingham City Council have signed off the outline business case, unlocking public funding to get the project moving.

The cash will be released in stages as full business cases are submitted for each phase.

The first tranche is expected to be approved in early 2026, paving the way for enabling works on the new Bull Ring Markets, homes, office space and two major public squares – Market Square and Manor Square.

Outline and detailed plan (in colour) of buildings and squares

Lendlease is leading delivery of the 17-hectare scheme in joint venture with the city council. The Crown Estate is set to join the partnership as formal plans progress.

Smithfield will deliver over 3,000 homes, a major city centre park, and 82,000 sq m of commercial and cultural space.

Construction is slated to begin in early 2026, with the development set to unfold in four phases over the next decade.

A landmark mixed-use building paves the way for over 400 build to rent homes overlooking Manor Square

The project is expected to create more than 9,000 construction jobs.

Detailed design work is already underway along with planning condition sign-offs, site surveys and early setup activity.

Cllr Sharon Thompson, deputy leader and cabinet member for economy and skills, said: “Smithfield is the largest single city centre development site in the UK. This £1.9bn scheme will create thousands of jobs and homes, while helping Birmingham raise its national and global profile.”

Smithfield Park within the residential quarter, Smithfield Gardens

Lendlease’s portfolio development director Colin Murphy added: “This funding brings added momentum and shows real belief in Birmingham’s future. It’s a major step toward delivering this once-in-a-generation opportunity.”

The scheme is backed by the Birmingham Enterprise Zone, which uses future business rate uplift from 39 city sites to support major projects. The Smithfield grant will be repaid over time through increased rates generated on-site through to 2045/46.