With a cost estimation of £258m, Moda Living, build to rent specialist, has submitted plans. The idea of design is to make Great Charles Street in Birmingham into a high-rise residential-led neighbourhood. The construction firm said it was committed to building a second major scheme in the city while the coronavirus pandemic is still making an impact.
Moda Living along with Apache Capital plans to transform a 2.6-acre, brownfield site in the Jewellery Quarter into a neighbourhood with 722 new homes for rent. Apache is well known to be a joint venture funding partner. The construction area includes co-working spaces, a gym, and 24-hour concierge. Residents will be able to access new public amenities and activate Lionel Street with new shops and commercial space according to the plan.
Moda and Apache Capital now have £850m of live schemes under construction across the UK – the first phase of its £2.5bn pipeline of over 7,500 rent-only homes. With further projects across the UK in varying stages of design, planning and development, Moda and Apache Capital are on target to be opening 125 homes a month by the end of 2021.