A multi-million pound housing project has been unveiled at a former factory in Birmingham.

The Crocodile Works site in Newtown is set to undergo a huge regeneration project backed by a £12million government grant.

Birmingham City Council has joined forces with Midland Heart, the Homes and Communities Agency (HCA) and Urban Living to help kick-start redevelopment of the area.

The project will provide homes for rent to homebuy, outright sale and rent, with the former factory being transformed into 126 apartments and 42 townhouses in two years. Midland Heart has awarded the £17million building contract to Loughborough-based William Davis Ltd. Work on the site began last month and is due to be completed in 2011.