The Stone Yard development is being brought forward by Moda, with investment support from Aviva Capital Partners and debt financing provided by NatWest and Homes England. Reports Contract Journal
Backing from the West Midlands Combined Authority (WMCA) includes grant funding aimed at increasing affordable housing across the four-acre brownfield site.
Moda’s sister company, Caddick, has commenced enabling works on the first phase, which will deliver 605 homes across four residential blocks. Completion is scheduled for 2028. A future phase will take the total number of homes to 995.
Homes England is contributing approximately £40m in loan funding through its Home Building Fund, while WMCA support will ensure that 20% of the homes are delivered at discounted market rent and integrated throughout the development.
Stone Yard will offer co-working areas, gyms, residents’ lounges, and landscaped public spaces alongside commercial units — all under the professional management of Moda. The scheme is designed to achieve leading sustainability certifications, including BREEAM, Fitwel, and Home Quality Mark.
Positioned on Deritend Road beside the Custard Factory, the development sits at the heart of Digbeth’s creative quarter, directly opposite the future HS2 Curzon Street Station.
Homes England described the agreement as a flagship example of how Strategic Place Partnerships can unlock major housing and regeneration opportunities.
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