Approval sought for £275m urban village plans

A planning applicaton for the creation of a £275m urban village in Birmingham city centre has now been submitted for approval.

The New Monaco scheme, on Bristol Street next to Bristol Street Motors, plans to bring more than 1,000 apartments and townhouses to Birmingham city centre in 2023.

The ambitious plans are set to transform the seven-acre site of the vacant Monaco House complex.

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.”

Two towers, 26 and 29 storeys high, will stand alongside apartment blocks and townhouses at the heart of the build-to-rent scheme, providing more than a thousand one, two and three-bedroom homes for rent.

Plans also include 16,000 sq ft of space for retail, food and residential use, car parking, and an on-site gym and cycle club.
 
MCR Property Group is working with partners including planning consultant, Pegasus Group, and architects, Leach Rhodes Walker, to bring the project to life.

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.”

Demolition of Monaco House is currently underway. Construction is set to begin at the end of 2018 and is estimated to be completed in 2023. Once completed, the units will be sold by MCR Property Group’s residential arm Regency Residential.