Moda has been working closely with Birmingham City Council to transform the 2.6-acre brownfield site at Great Charles Street into a thriving Build to Rent neighbourhood with new homes, shops, amenities and improved public realm.
“We are delighted to see Moda progressing with these impressive plans to transform this long vacant plot in the heart of our city – in our Big City Plan. Bringing quality, new housing stock to the city is of paramount importance to the City Council.
“Our aim is to continue to create a world-class city centre by planning for the next 20 years of transformation and growth – and this project is an important part of that.”Leader of the Council Ian Ward, Birmingham City Council
Moda and Apache Capital’s total investment of £445m will deliver 1,200 homes in Birmingham. It supports Birmingham’s ‘Big City Plan’, accounting for 24% of the councils target of 5,000 new homes per year in the city.
If planning is approved, this will be Moda and Apache Capital’s second site under development in the city after ‘The Mercian’ on Broad Street. Under construction, it’s Birmingham’s tallest residential tower.
“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.
“We believe this submission puts the interests of the city and people of Birmingham first. The site, currently a car park, will be an exciting new neighbourhood in the prosperity of the city.”Tony Brooks, Managing Director, Moda
Planning submitted for the 722 Build to Rent homes will cater for professionals, downsizers, sharers and families. Residents will have access to onsite amenities with mental and physical health and wellbeing at its heart.
Facilities will include gyms and wellness zones, green spaces, roof terraces, communal lounges, and workspace – which are all included in the rent. Moda will also offer deposit-free, pet friendly renting with secure but flexible tenancies to give residents a sense of ownership, alongside a 24-hour on-site professionally managed service.
“Despite the wider disruption caused by COVID-19, the sector remains highly attractive thanks to its defensive qualities and strong fundamentals, with a clear mismatch between demand and supply.Richard Jackson, Co-Founder and Managing Director, Apache Capital Partners
“Looking specifically at Birmingham, the fundamentals remain sound combining a prime site location with one of the youngest populations of any large city in Europe, significant infrastructure investment and a growing number of large employers. Together these will all support structural demand for high quality rental housing.”