The developer has been working closely with Birmingham City Council — the site’s freeholder — to transform the 2.6-acre brownfield site at Great Charles Street into a thriving neighbourhood.
The plans were formed following extensive engagement with key stakeholders, including Birmingham City Council; the Jewellery Quarter Development Trust; the Jewellery Quarter Business Improvement District; Colmore Business Improvement District; the Birmingham Civic Society; local councillors, local businesses; and members of the public.
At the end of February, Moda held a two-day public exhibition which was attended by over 175 people.
If the JV partners get the green light, this will be their second site in the city, following ‘The Mercian’ on Broad Street, a soaring residential tower under construction.
“While times are tough for everyone at this time, we believe Birmingham’s future beyond this is bright and, accordingly, we have submitted our plans for the Great Charles Street development — our second site in a city we love,” commented Tony Brooks, managing director at Moda Living.
- DFT Roundtable: How rising costs, coronavirus and a labour shortage could stall property developments in 2020
- Eutopia Homes gets green light for £130m urban village
- What do the government's planning reforms mean for developers?
He claimed its sustainably built BTR schemes were introducing a “completely new way of living and working” and provided more opportunities, amenities, options and facilities than “ever before”.
A street-level image of what the £258m Birmingham BTR development is expected to look like
“The site — currently a car park — will be an exciting new neighbourhood in the prosperity of the city.
“The local authority has been fantastic in helping to guide us on our journey and we look forward to continuing to invest in the city when the present situation improves.”
Moda and Apache Capital’s total investment of £445m will deliver 1,200 homes in Birmingham.
The JV now has £850m of live schemes under construction across the UK, and has attracted £400m in capital, with investment from major UK and US institutional investors such as Harrison Street and NFU Mutual.
“Despite the wider disruption caused by Covid-19, the [BTR] sector remains highly attractive thanks to its defensive qualities and strong fundamentals, with a clear mismatch between demand and supply,” added Richard Jackson, managing director and co-founder of Apache Capital Partners.