The UK government has announced plans to build a total of 2,062 homes for rent in Birmingham, Leeds and Manchester.
The £400M project will include the construction of 995 homes in Manchester, 744 homes in Leeds, and 323 homes in Birmingham.
Work will be led by national developer Dandara Group, in association with the Homes and Communities Agency, and British banking group HSBC.
UK minister of state for housing and planning Gavin Barwell said: “Alongside home ownership, we’re determined to create a bigger, better private rental market to offer greater choice for tenants in a country that works for everyone.”
“This is one of the largest private rental sector deals in the UK and will not only create thousands of homes for people in Birmingham, Leeds and Manchester — it will create jobs and opportunities for many hundreds of people.”
The project is anticipated to create up to 1,500 new construction jobs. Construction work is expected to commence in January 2017 and be concluded by December 2019.
* Data provided by Timetric's Construction Intelligence Center.