Terminal in Brum will be on the site of the original
Curzon Street station in the Eastside part of the city with footbridge links to Moor Street and New Street stations, they're also planning an expansion at Birmingham International to tie in with the NEC and Airport.
New St Station is currently being redeveloped, to improve it from the black hole it's been while everything around it has changed, but it has been struggling with capacity for over 20 years, as has the line between Coventry and Birmingham, which handles all the Birmingham-London services as well as the Cross country trains down to Oxford/Reading and Bournemouth as well as the local services.
I just wish they'd get started on it, starting at both ends like they did with the channel tunnel, and use the French/German way of doing things making sure British companies get the contracts and start the planning for the extension on to Manchester/Leeds and Scotland