Sandwell Council has announced that it is applying for a £1.4 million grant to fund the demolition of the Bull Street car park and get the site ready for redevelopment.
Councillor Paul Moore, cabinet member for regeneration, said: “The car park is at the end of its lifespan and will be demolished for a new regeneration site, with works expected to start later next year.
"We want to replace the car park with a development that encourages more visitors to West Bromwich, creates new jobs and complements other recent regeneration projects in the town.
"In addition to this project, works to redevelop the Shaftesbury House and the former gas showroom sites will remain priorities for the council in the New Year."
Sandwell’s Cabinet will consider the proposal at its meeting on 13 December. If the plan is formally approved, the council will apply to the Black Country Local Enterprise Partnership for grant funding.
The demolition – which would be subject to planning permission – would create 14,772sqm of floor space for new development.
The council would look to sell the cleared site on the open market or work with a development partner to redevelop it.
There are several other car parks in the town centre and the council would make sure parking spaces are provided for long-stay Blue Badge users who currently use the Bull Street car park.