Plans have been submitted for a “landmark” regeneration project in central Middlesbrough costing £200 million.
Developers iMpeC and Buccleuch Property are seeking to build more than 230 Build-to-Rent (BtR) properties and a 400-bed student block at a derelict site in Gresham.
“This site has stood empty and unloved for far too long but in just a short space of time we have helped support this project which would see the biggest one-off investment in Middlesbrough in living memory,” said Tees Valley mayor and Middlesbrough Development Corporation (MDC) chairman, Ben Houchen.
The project includes the development of a new hotel alongside the professional and student living spaces.
This follows an announcement in October last year Fairfield by Marriott is in talks to open a 200-bed hotel at the corner of Borough Road near Union Street and Hartington Road.
Wates has been appointed lead construction contractor while MDC agreed in December to an additional funding package of £7 million.
“Our vision remains focused on delivering high-quality housing and accommodation, comparable to the best in other towns and cities, with the goal of attracting and retaining talented individuals to Middlesbrough,” said Neil McMillan, iMpeC director.
“This is essential for the town’s future prosperity and for supporting the growth of local businesses.
“The Gresham project has the potential to play a transformative role in shaping Middlesbrough’s future success.”
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