The regeneration scheme is being funded by the city council and government and the council say it will give the area a new lease of life.
The programme will revamp empty council-owned properties which have fallen into disrepair.
The city council will initially cover the cost of refurbishing the homes and will sell them for just £1. However, the new owners will have to pay back the cost of the refurbishment over a set period of time.
It is the first phase in a £3 million project which will see 124 long term empty homes in Portland Street and Bond Street areas brought back into use.
More top news
It started as a group of friends enjoying a weekend kick about - it's now an established name in the Wolverhampton & District Sunday League.
Two men have been jailed over break-ins at family homes as police crack down burglary rates 'gathers speed'.
The report found one man had voted twice in the EU referendum and a Tory councillor who had been jailed for submitting a false address.