Transformational change has become a favoured phrase for the regeneration sector but I believe public-private partnerships (PPPs) are the only realistic way in which such change can be achieved in these times of austerity.
We all saw how the old and shabby New Street station was transformed, thanks to some £600 million of support from the public sector including Advantage West Midlands, Department for Transport, Birmingham City Council, Network Rail, Centro and other partners.
Such funding packages could no longer be assembled.
Now, partnership models are essential and we've already seen excellent examples of how PPPs can deliver massive benefits, if the public sector body is able to be creative and the private sector partner is equally willing to commit to the process.
The giant Paradise mixed-use scheme, which is transforming the heart of our city, is a joint venture between the city council, local enterprise partnership, Argent as the development partner and Hermes Investment Management (HIM) as the funding manager.
It's a complex and multi-layered project, which took time to assemble and will take time to deliver, but it's also a very practical example of how the council was prepared to create an investable proposition to persuade HIM, and its backers, to commit long-term funds to our city.
At Ballymore's Snowhill scheme, we've seen M&G Real Estate demonstrate its belief in the future Birmingham by acquiring Two Snowhill in 2014, and then funding construction of Three Snowhill.
This £200 million project will deliver almost 400,000 sq ft of much-needed grade A space by the end of 2018.
The property arm of Legal & General has also committed £400 million to investments in Greater Birmingham and I am hearing of new investment interest from such diverse locations as China, Kuwait and North America.
We are told that investors are increasingly attracted here because we deliver on our promises and do everything possible to create genuine partnerships, where we offer our skills and explain our strategic direction, and our partners use their expertise and their contact books to assist us.
We approve 90 per cent of all major planning applications within 13 weeks, against a national target of just 60 per cent, because we know the private sector appreciates such efficiency.
Equally, we also understand that different investors have different priorities, so our offers needs to be different, if we are talking to private equity, a financial institution or a sovereign wealth fund.
Our central role is to connect the right investor to the right investment opportunity, especially as interest builds in such prime locations as Birmingham Smithfield, Curzon Street Station and the wider Digbeth area.
The city's civic leadership also has a crucial part to play, in sending out the right signals to potential investors,setting the tone for future conversations, and making clear that this council is very willing to embrace private sector partners who understand our values and share our desires.
Waheed Nazir is Birmingham City Council's director of planning and regeneration and acting strategic director for economy