1,000 home scheme approved for Birmingham City Centre

A 1,009 home scheme in Birmingham has been approved after a S106 legal agreement was signed by the developer and the council.

Orchidtame Ltd, part of MCR Property Group is set to create the £251m New Monaco scheme which comprise of two towers of 29 and 26 storeys, alongside 11 apartment blocks that are up to 10 storeys high.

There will be 92 affordable private rental properties among the 1,009 units.

MCR Property Group says it has invested in the “innovation of New Monaco, as we believe that community living is the next step forward in the advancement of the UK’s PRS market”.

It believes that “Birmingham is going from strength to strength” meaning it expects New Monaco to “generate a lot of early interest from investors across the world as one of Birmingham’s most exciting new developments”.