Birminghambuildingsurveyors – Birmingham City Council is planning to develop 400 homes for market rent on public land in partnership with a housing association and developer.
The cabinet will receive a report next week outlining proposals to develop the homes on the St Luke’s estate in Highgate through an innovative partnership with housing association WM Housing Group and developer Willmott Dixon.
The development is understood to use a new funding model where the developer and council will both take an equity stake in the homes, with the aim of selling them on to an institutional investor within a five to 10 year time frame.
Further information is available from the source, here.