Wavensmere Homes has received planning approval from City of Wolverhampton Council for its £150m residential-led Canalside South development.

The 17.5-acre former industrial site is located within the city centre with frontage onto the Wyrley and Essington Canal and the Wolverhampton branch of the Birmingham Main Line Canal.

Work is due to start by the end of the year.

More than 530 homes, seven acres of green space and a range of commercial amenities will transform the site which has been derelict for 15 years.

Designed by Glancy Nicholls Architects, the low-rise development plans emulate the surrounding conservation area and maximise the canalside setting.

The scheme will also open up a new pedestrian route to the city core, reducing the previous walk time by 20 minutes, and igniting investment into a commercial corridor.

Councillor Stephen Simkins, leader of City of Wolverhampton Council, said: “Wavensmere Homes submitted a quality and comprehensive planning application that will deliver for Wolverhampton.

“This project is fundamental to our brownfield first strategy, driving investment into the Green Innovation Corridor, and it will also fulfil a key objective of our Canalside Delivery Partnership with the Canal & River Trust.

“We can now look forward to work starting on site. Bringing life back to the redundant sites along our canal network is critical to boosting footfall into our city centre.

“As one of the largest new housing developments in the Midlands, Wavensmere’s £150m investment will enable Wolverhampton residents to benefit from superb connectivity, amenities, and health and wellbeing opportunities at this wonderful heritage location.”

James Dickens, managing director of Wavensmere Homes, added: “The experience of working with this city council - and in particular the planning department - has been unprecedented. Wolverhampton is a city that is open for business.

“As a timeline, Wavensmere was announced as the new developer for this nationally significant project last December, and we are now in a position to confirm that we will be starting work at Canalside South before the year is out.”