Senior councillors are set to consider the next stage for the major multi-billion pound Arden Cross development next week.

The huge regeneration of the 340-acre Arden Cross site, located just over a mile east of Birmingham Airport – has been in the pipeline for years with £3.2 billion expected to be ploughed into the area.

The site is located next to the new HS2 Interchange Station and also near the NEC campus and Birmingham International railway station.

The plan is for the site to be mixed use with thousands of homes and a new state-of-the-art 'HealthTech' Campus built on the land.

In the summer it was confirmed by the Department for Transport development land around the HS2 Interchange Station will be available from 2030.

On the agenda for Solihull Metropolitan Borough Council's (SMBC) next cabinet meeting is an item called the 'Arden Cross Progress and Funding Update'.

It is now seeking approval from councillors to submit a Strategic Outline Case (SOC) to the West Midlands Combined Authority (WMCA) on behalf of Muse Places Ltd – the council's developer partner for the major site.

A report prepared for the cabinet says: "The SOC will seek £4.9million of WMCA grant funding to progress the strategic infrastructure design, technical development, preparation of outline planning documentation, and completion of early enabling works required to bring forward the Arden Cross Project.

"Subject to WMCA approval, the funding would be awarded to the council. The council would then enter into a funding agreement with Muse to make the approved funding available for agreed activities.

"This decision is limited to submission of the SOC. It does not approve or commit the council to further capital funding for construction or delivery of the strategic infrastructure works.

"A further report will be brought to cabinet for approval before any further funding for project delivery is sought from the WMCA."

Following recent speculation Birmingham City Football Club could be interested in building a training complex and women's stadium on the land, SMBC's leader Cllr Karen Grinsell told the Local Democracy Reporting Service: "There is an outline plan for the site.

"There are no known conversations about any other use of the land.

"It is the time for any other interested parties who want to step forward."

Richard Parker, West Midlands mayor, said in the summer: "Arden Cross is a once-in-a-generation opportunity to create high-paid jobs, grow our cutting-edge businesses and provide the new homes our people need."

The meeting is being held at the Civic Suite on November 12, or will be available to watch live from 6pm on the council's website solihull.gov.uk.