MCR Property Group has received planning permission to build over 1,000 new homes and two landmark towers on Birmingham’s former Monaco House complex.
The vacant seven acre site on Bristol Street will see a £275m urban village created with 11 apartment blocks ranging between five and 10 storeys sitting alongside two prominent towers of 26 and 29 storeys providing 1,009 homes, including 92 affordable private rental properties.
Chris Taylor, fund manager at MCR Property Group, said: “Investment into Birmingham’s Southside area has become vital to improving the levels of high quality housing stock in the city. Receiving the go ahead for our New Monaco development means we can provide much-needed homes to Birmingham residents while carving an exciting new identity for the neglected Monaco House site.”
Plans for the development also include a 7,588 sq ft residential hub and 16,285 sq ft of commercial space.
There will be ground-floor shops, cafes and bars as well as landscaped public and private open areas and pedestrian walkways, and the residents will also have access to 335 underground car park spaces, a concierge service, on-site gym and cycle club.
David Onions, a director based in Pegasus Group’s Sutton Coldfield office (consultants on the scheme), said: ‘‘New Monaco 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.”
A new road will link nearby Vere Street with Wrentham Street to connect the development to its surrounding city centre locations with construction on the scheme to start at the end of 2018 and expected to be completed in 2023.