The Belgrade Plaza is being built by construction firm, Oakmoor Deeley. The development has two phases. The first – a 1,100 space car park – opened in 2007. The second phase will bring two hotels, a casino, restaurants, bars and apartments to the area between the Belgrade Theatre and the ring road.
Gala Casino, Premier Travel Inn, Radisson Edwardian, Pizza Express, Bella Italia and Metro Bar& Grill have units at the development planned.
On 12 March 2008, construction workers at the site discovered an unexploded World War II bomb, which had been dropped during the Coventry Blitz. The site was evacuated and a cordon of 500-metres was enforced. Many workers were forced to exit their offices and leave their vehicles in car parks overnight.
Army experts carried out a controlled explosion on the bomb at 2.41 a.m. on 13 March 2008. Work resumed at 10 a.m. the following morning.
- "Thousands are evacuated in unexploded bomb drama". Coventry Telegraph. 13 March 2008. Retrieved 17 March 2008.
- "'World War II bomb' found in city". BBC News Online. BBC. 12 March 2008. Archived from the original on 22 August 2010. Retrieved 5 September 2010.
- "Controlled explosion on WWII bomb". BBC News Online. BBC. 13 March 2008. Retrieved 5 September 2010.