Expressions of interest open on Thursday 8 October for commercial, mixed-use and large-scale residential schemes

Private sector developers are being invited to put forward schemes for investment from the West Midlands Futures Fund, a £3.8bn regional investment fund overseen by the West Midlands Combined Authority (WMCA).

A call for projects opens on Thursday 8 October, coinciding with the West Midlands Growth Summit. It seeks expressions of interest for commercial, mixed-use and large-scale residential developments, with hotels, offices and employment space identified as priorities.

Around £545m of the fund is currently allocated for these types of projects, alongside support from members of the wider West Midlands Investment Partnership. The WMCA already operates a separate £300m revolving fund for similar purposes.

Announcing the call for projects, the Mayor of the West Midlands, Richard Parker, said: “I want developers to work with us and help build the schemes that will drive prosperity for local people and businesses in the years ahead.”

Where the money has gone so far

The fund was launched in May 2026 with an initial £3.8bn. More than £400m has been allocated to affordable and social housing, and £1.7bn has been committed to transport infrastructure, including tram and rail links to the planned Birmingham Sports Quarter.

The WMCA reports that it contracted on more than 7,000 homes in the 12 months to April, of which nearly 2,500 are affordable or for social rent.

The fund draws on money and support from public bodies including the West Midlands Pension Fund, Homes England, the National Wealth Fund, the British Business Bank and the Office for Investment. The WMCA expects it to grow as further powers and funding are devolved from central government.

It is also expected to help finance the £11bn Birmingham East Mayoral Development Corporation. The WMCA estimates the corporation will create more than 50,000 jobs and 20,000 homes in the east of the city, which is among the most deprived areas in Britain.

Projects in the next round

The WMCA has also named the next set of projects to receive backing, spread across four growth corridors: Birmingham and North Solihull Gateway, Coventry Growth Arc, Black Country Growth Corridor, and the Wolverhampton to Walsall Growth Cluster.

They include:

• A proposed £35m creative and mixed-use neighbourhood at Fazeley Street in Digbeth, where Homes England has selected Digbeth Loc Studios Ltd as its preferred development partner. The selection remains subject to contract and a standstill period
• National Wealth Fund support for projects at Junction 10 in Walsall, the Birmingham Sports Quarter, the Birmingham Knowledge Quarter, Greenpower Park, Coventry Very Light Rail and the Net Zero Portfolio
• Nearly £48m from the WMCA for new homes across the Black Country
• A £24m regeneration of Kingshurst Village Centre in North Solihull, including a community, health and retail building, six houses and a vicarage, with work due to start in December

The fund has previously invested in the Solihull Town Centre Heat Network, which is due to start supplying heat to buildings this autumn.

Expressions of interest can be submitted from Thursday 8 October at https://www.siteselectionwm.com/call-for-projects