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A joint venture between house builder Vistry, housing association Bromford and built-to-rent provider Sigma Capital Group is set to deliver 688 homes in Birmingham.
Vistry has secured planning permission from Birmingham City Council to build the homes on a site formerly home to the MG works.
Bromford is set to deliver 250 of the homes, 40% of which will be affordable.
Build-to-rent provider Sigma will own and manage 215 of the homes.
Of the remaining homes, 197 will be available on the open market and 26 will be offered as First Homes.
Vistry said the homes will be built with a focus on sustainability, featuring air-source heat pumps and photovoltaic panels for renewable electricity.
The homes will be manufactured off-site.
Phil McHugh, managing director for the North West Midlands at Vistry, said: “This is an important development that will contribute to Birmingham’s economic growth by providing new jobs and high-quality places to live.
“Like many major cities, Birmingham has a severe shortage of affordable homes; that’s something we’re aiming to address by going the extra mile to deliver affordable and social rent homes over and above what is required of us and delivering them at pace.
“We’re also proud of the sustainability of the homes we’ll be providing, with features and construction methods that reduce their impact on the environment and will lower energy bills for future residents.”
Alice Phillips, regional development manager at Bromford added: “We believe that nothing is more important to a person than having a safe, secure home.
“But there is a real shortage of quality, affordable housing in Birmingham, which is why we are pleased to work with Vistry to deliver these new homes for rent and shared ownership at Longbridge.
“Now that Birmingham City Council has given the go-ahead to this development, we can look forward to the day when we welcome customers into their new homes in this growing, thriving community.”
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