Work is well underway at the Embankment apartments – the first housing project to be developed for the private rental sector by Birmingham City Council’s wholly owned company – Inreach Birmingham Limited (Inreach).
The purpose-built market rent scheme will comprise of 92 furnished apartments: 24 X 1 bedroom and 68 x 2 bedrooms. Designed to a high specification, the city centre apartments will offer light and space, landscaped communal space and on-site parking for 56 of the 92 apartments. Offsite provision for the remaining 36 apartments will also be provided.
Currently under construction by Galliford Try Partnerships, building is due for completion by February 2018. The £14 million project has been funded by a commercial loan from the council and the council’s initial stakeholder investment.
Birmingham City Council’s cabinet member for housing and homes, Cllr Peter Griffiths, said: “Birmingham City Council is committed to tackling the housing shortage in whatever way we can – through the provision of social housing, housing for sale and now quality apartments for market rent too. Using the expertise we have built up over the years through the Birmingham Municipal Housing Trust – the council’s social and affordable housing builders- we are now in the position to use these skills to support the housing needs in the growing private rented sector.
“The boards around the site have only been up a few days and we have already had enquiries from people eager to rent these well designed flats. As the project is being financed by the council’s wholly owned company, any income generated will be reinvested to provide mainstream council services over the long term so it really is a win win situation with citizens across the city set to benefit.”