The implementation of the Great Charles Street residential project in Birmingham has begun. John Sisk & Son is developing the significant high-rise rental project that will transform Ludgate Hill Carpark a site that has been vacant for more than 70 years.
The project implementation is led by build-to-rent specialist Moda Living. The plan is to create the Great Charles Street high-rise residential-led neighborhood in the city’s renowned Jewellery Quarter.
The project will provide 722 rental homes spread across four blocks with six to thirty-nine stories. Great Charles Street was created in collaboration with Ryder Architecture. It will have a 24-hour fitness center, private dining rooms, coworking spaces, resident sky lounges, roof terraces, and movie theatres.
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The Great Charles Street residential project in Birmingham
The scheme will pursue the highest levels of ESG certifications. It will follow the footsteps of Moda and The Mercian on Broad Street, the first residential structure in Birmingham to receive three-star Fitwel certification and to use certified 100% renewable electricity. Delivering the Great Charles Street residential project in Birmingham will bring the West Midlands an estimated £92 million in gross added value. It will also create about 470 new construction jobs.
The neighborhood has been backed by the largest deal for a build-to-rent project outside of London. It will cost about £302m. The project is financed by Harrison Street, NFU Mutual, and Apache Capital. There is also a £188m development loan from Precede.
Alan Rodger, Managing Director, John Sisk & Son, stated: “The project will develop a landmark doorway to the city center. It also allows us to develop upon our work with Birmingham City Council, the West Midlands Combined Authority, and our trusted supply chain to create training, jobs, and quality accommodation for the citizens of the West Midlands.”