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The council has just completed the demolition of derelict buildings on Cleveland Street, converting the land to provide additional car parking in the city centre in the interim.
Initial works to bring down the former Netto building will start this month, with full demolition to be completed after Christmas.
The council has also recently bought land and property at 50 to 51 Snow Hill and 1 to 5 Bell Street to strengthen its landownership in the area.
Meanwhile, the £4 million expansion and redevelopment of Casino 36 is advancing, with the Temple Street venue expected to open next year.
Councillor Peter Bilson, the City of Wolverhampton Council's Cabinet Member for City Assets, said: "Southside forms a major part of the council's multi million pound regeneration plans.
"We are making big strides in tidying up this section of the city to enhance development opportunities and attract investment."
The Casino 36 project will see The Rubicon Casino expand into the empty neighbouring building, formerly The Dorchester/Beach nightclub.
The owners have a development agreement with the City of Wolverhampton Council. As part of that agreement they will receive a small casino license once the refurbishment of the site is completed to the council's satisfaction.
The agreement also states Casino 36 will contribute £36,000 towards counselling programmes for problem gamblers and their families, and community initiatives.
Councillor Bilson added: "The casino will offer jobs to people, which is good news. There will always be concerns about bringing in or extending a gambling institution in the city and we have had assurances from the owners that they will act responsibly."
- released: Wednesday 18 November, 2015