Housing provider Abri has struck a deal with Bristol-based developer Cubex to deliver 66 new homes in the Finzels Reach development in the city centre.
The apartments at the mixed-use scheme’s 10-storey Coopers Court building will consist of 48 homes for the social rented market and 18 for shared ownership.
A fifth of the homes will be classed as “affordable”, in line with Bristol City Council's policy for new developments in this area, in a bid to address the city's housing crisis and help first-time buyers onto the property market.
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Construction firm Willmott Dixon will begin work on the project this month, with a move-in date for residents targeted for 2023.
The scheme contributes to Abri's growing development programme in Bristol, including 75 homes at Castle Park View, 31 homes at the previously derelict Speedwell Swimming Baths, 42 apartments on Dean Street and 36 affordable homes at the former Elizabeth Shaw chocolate factory.
James Pennington, director of development at Abri, said: "It's great to be collaborating on such a substantial project in the heart of Bristol and helping to provide affordable homes for local people in a central location.
“With a mixed-use development of this scale, it's important the homes form part of the community and we hope to add real value to the community by providing quality and sustainable homes that meet the aspirations of everyone coming to live here."
Finzels Reach is one of the largest mixed-use developments in the South West. It’s first phase includes 440 new apartments, 240,000 sq ft of office space including high-tech eco office building Halo, a 168-bedroom Premier Inn, plus a host of cafes, restaurants and a microbrewery.
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The second phase at Coopers Court, on the former site of the Avon Fire and Rescue Service station, will incorporate nearly 300 homes.
Elgan Jones, Cubex’s associate director, said: "This deal represents 20% of the homes being delivered under the second phase of Finzels Reach and marks an important milestone for us in our journey to transform this once-derelict city centre site into a vibrant new quarter, providing high-quality, unique places for people to live, work and socialise.
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"With work on these new homes starting on site imminently, we are pleased to be supporting local construction jobs and contributing to building confidence in the economy during an extremely challenging time.
“As a mark of our confidence, Cubex is currently in the market for more sites and is looking ahead to future development opportunities under a similar partnership structure."