The Studios24 – located at Birch Street, Wolverhampton – will comprise 218 en suite rooms arranged as apartments, with shared facilities, including kitchens, working and relaxation areas, a café and bar, gym, laundry and high-speed internet.
The development – which is transforming the dilapidated office building – has created around 40 new jobs.
Phase one of the development – which includes 93 rooms, a bar and café, laundry and secure reception area – has been completed.
With the first three floors of apartments at the 12-storey building completed, 55 rooms have been let.
The development is expected to reach full completion in spring 2020.
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Barry Glantz, managing director at the Studios24 (pictured above), said: “It’s been a wonderful time for us as we’ve seen our dream of bringing co-living to Wolverhampton become an exciting reality.
“The Studios24 is a high-quality development of new, prestige studio rooms arranged as apartments, right in the very heart of Wolverhampton.
“Residents benefit from exclusive access to our working and socialising areas, café and bar, a gym which we’re working on, and a range of events that get people socialising and getting to know each other.
“With all that Wolverhampton has to offer, and with Birmingham just a short commute away, we’re getting a lot of interest from prospective tenants and our first 55 rooms are all occupied.
“It’s fantastic to see local people and businesses really embrace the co-living concept – it offers a great lifestyle at a very affordable price.”