Comprehensive plans to develop three areas in the Black Country have been announced this week.

Urban regeneration company RegenCo unveiled the £1bn plans, which aim to create around 20,000 jobs over a 15-year period, at the Summit for Property Investment (SPI) in London on 10 November.

The schemes include the redevelopment of the region’s existing canal network, resulting in specially created marinas which will act as urban villages and introduce a number restaurants, bars and cafés alongside residential property.

The masterplan also includes transforming West Bromwich into a centre for culture and the arts by creating a new public town square – designed by Camlin Lonsdale.

The centrepiece of the new town square will be a cultural centre called The Public – claimed to be the largest community arts development in Europe – which will also offer cafés, restaurants, bars and a cabaret venue.

RegenCo’s other plans for the region include a sports and leisure facility close to Junction 1 on the M5 motorway, featuring a hotel as well as a £27m Sandwell Academy focusing on sports studies.

RegenCO chief executive Ros Kerslake said: “Through these bold and exciting plans we will transform the area and raise its profile and image.

“Major projects such as the iconic Public building give a clear message about the scale of the transformation that we aim to deliver.”

Sandwell Metropolitan Borough Council, Advantage West Midlands and English Partnerships will be co-ordinating the work under the Sandwell Urban Regeneration Project.

Funding for the regeneration will be generated from both public and private investment.