The Marylebone Square scheme is a £106m mixed-use development, with residential homes planned above commercial units at street level.

The homes will be available exclusively to those who live or work in the local area, with rents starting at £180 per week.

Basement construction for the development has been completed after planning permission was granted in 2016.

Practical completion is expected in the third quarter of 2023.

Marylebone Square will also serve as a community destination, providing multiple community spaces and a health club whilst facilitating the ongoing trading of the local farmer’s market.

Olivia Harris, chief executive of Dolphin Living, said: “We’re pleased to be delivering much needed intermediate rental housing in Marylebone in partnership with Moxon Street Residential.

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“The pandemic, followed by the cost-of-living crisis, has left many of London’s workers struggling to afford to live within a reasonable commute of their workplace.

“Rents are rising more quickly than wages and families are preparing for higher than ever energy bills this winter.

“We must not sit by while those who kept the city running throughout the pandemic are left struggling — it is our turn to support them by tackling the root issue and providing genuinely affordable homes in the centre of the city.

“We’re pleased that the homes at Marylebone Square address the issue to an excellent standard.”

Gavin de Klerk, development director at Moxon Street Residential, added: “We are pleased to be partnering with Dolphin Living to add affordable housing to the Marylebone area.

“Providing accessible, quality homes to the communities in and around London is vital to the capital’s long-term success and we are delighted to contribute."