Moda’s £260m Birmingham tower approved
1/2/21
Moda has been given the go-ahead to build a new £260m tower in central Birmingham.
The residential development on Great Charles Street will see a 39-storey tower built along with lower-rise buildings to deliver 722 homes for rent. The scheme will include retail and restaurant space as well.
Construction News understands that two contractors are in negotiation with Moda for the scheme. Work is scheduled to begin in early 2021.
There has been some uncertainty on the future of big projects following the outbreak of the COVID-19 pandemic in March, but Richard Jackson, managing director of funding partner Apache Capital, said schemes such as this were still in demand: "Our model of amenity-rich, highly serviced build-to-rent is well placed to meet the new normal that has been created by COVID-19, as demonstrated by the leasing success at Angel Gardens [a resi project in Manchester] – our first operational scheme with Moda Living, where we have just completed the final phase."
Moda Living managing director Tony Brooks said: "This decision is the culmination of months of collaboration with planning officers, stakeholders and residents. We are keen to get on site to start delivering this important, sustainable project, create jobs and invest in Birmingham over a long-term horizon."
Moda is currently building another build-to-rent scheme in the city called The Mercian. Sisk is the main contractor on the 42-storey tower.
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