The Masterplan will co-ordinate the physical, economic and cultural development of the city centre over the next 20 years.

As part of this more than £10 billion worth of investment is already planned for the city centre, including Arena Central, New Street Gateway Project, Snow Hill redevelopment and the proposed Library of Birmingham.

Council Leader, Mike Whitby, said: “The Masterplan is the most ambitious and far reaching city-wide development project ever undertaken in the UK and will underpin the future development of the entire city and wider region for many generations to come.”

“By developing an integrated approach within which public and private sectors work in unison, the Masterplan will create an environment within which all parts of the city centre are linked together.

The Masterplan will be based upon the principles set out by Professor Michael Parkinson of the European Institute for Urban Affairs, in his ‘visioning study’, which was delivered to the Council earlier this year.

Currently the city council owns almost half of all the land within the 2000 acre city centre. Working alongside private companies, the Authority will use the Masterplan as a route map for unlocking the full potential of this key resource.