Shearer Property Regen Limited (SPRL) has secured planning consent for phase one of the Coventry City Centre South project in England, UK.
SPRL is a development collaboration between Hill and Shearer Property Group.
The £450m ($577.54m) redevelopment initiative, which will provide up to 1,550 homes, has received approval from Coventry City Council.
The first phase will include 991 homes, 8,000m² of commercial space, and 17,000m² of public open space, creating a new residential, shopping, and leisure destination in the Midlands.
This phase will offer a variety of homes, from studios to three-bedroom apartments, catering to a diverse demographic.
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A total of 200 affordable homes will be allocated to locals, with 145 for social rent and 55 for shared ownership.
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By GlobalDataThe remaining 791 units will be sold or rented on the private market, with a portion of affordable homes available in the first two buildings.
The new homes will be divided across a series of four buildings ranging from five to 19 storeys.
Designed by architect Allies and Morrison, phase one will be designed and built to meet high environmental standards, featuring energy-saving construction, solar panels, green roofs, and low-energy lighting.
These will also include water-saving fixtures and connections to an efficient district heating system.
Each home will offer private outdoor space such as a balcony or terrace.
Shearer Property Group Guy Shearer said: “This planning consent is the culmination of many years’ work and will now unlock the delivery phase of this highly-anticipated scheme. City Centre South will create a vibrant new quarter for the city with an eclectic mix of the latest shops, bars, and restaurants, an exciting environment for the homes above.
“Delivering a project of this scale and complexity could not have been possible without the skill, dedication and commitment of our partners, The Hill Group, along with the support and collaboration of the council and WMCA.”
City Centre South is a part of Coventry’s broader regeneration strategy, which includes railway station upgrades.
An archaeological survey is expected to begin this month before demolition commences later this year.
The first homes are anticipated to be ready by early 2027.
