Plans have been submitted by MCR Property Group to develop a £275 million urban village on the vacant Monaco House complex in the city's southside district.
Demolition works are currently underway and construction is scheduled to start at the end of next year.
Designed by Leach Rhodes Walker Architects, the development will feature two towers (26 and 29 storeys) alongside apartment blocks and townhouses, providing more than a thousand homes for rent. Plans for the new city centre community include 1,500 sq. m. of space for retail, food and residential use, comprising ground-floor shops, cafes and bars; landscaped public and private open areas and pedestrian walkways.
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In addition, residents will also benefit from facilities including two levels of basement car parking, a concierge, an on-site gym and cycle club.
Manchester-based MCR are working with planning consultant Pegasus Group on the scheme. Completion is scheduled for 2023.
Chris Taylor, fund manager at MCR Property Group, said: "We're incredibly proud of the final plans for New Monaco. Everything has been designed to enhance the vacant land and deliver well-designed, high-quality, affordable housing for Birmingham residents and enrich the city centre for generations to come."
David Onions, Director at Pegasus Group, said: "Monaco House has been an unattractive part of Bristol Street for many years and this major new development will result in a dramatic improvement to this part of the city centre, aiding significant revitalisation of Birmingham's Southside area and meeting the city's growing housing needs."
(LM)
