A new residential development in a Birmingham district has been handed a funding boost.
West Midlands Combined Authority has agreed to make a "multimillion-pound investment" into the project in Digbeth although the final figure is yet to be decided.
The scheme comprises 481 apartments with 55 per cent of these classed as affordable, including 141 for social rent, across a pair of interlinked buildings reaching ten and 34 storeys respectively.
The scheme, earmarked for derelict land off Clyde Street, has been brought forward by Latimer, the development arm of affordable housing provider Clarion Housing Group.
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The decision comes after Mayor Richard Parker launched his ‘Homes for Everyone' plan in September which focuses on increasing the construction of social and affordable homes and the creation of new communities.
Mayor Parker said: "This scheme will deliver over 140 social homes, the first step in delivering my manifesto pledge of thousands of social homes across the West Midlands.
"For too long, investment in social housing has been neglected, leaving people without the safe, affordable homes they deserve. I'm determined to change that.
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"Rebuilding our social housing stock not only provides homes for those who need them most but also creates jobs and drives economic growth in our region."
The WMCA's approval in principle will now trigger detailed negotiations with Latimer to agree a final investment deal.
The project, to be built on the 1.3-acre site of a derelict storage facility, would also include five commercial units and a pocket park.
All of the properties would be powered by solar panels and heat pumps, helping to reduce energy bills for residents.
The residential tower would be one of several planned or under construction in Digbeth including a project by Moda Living and Aviva Capital Partners.
Called The Stone Yard, it will be housed on a four-acre site at the corner of High Street Deritend and Alcester Street which was once home to the Bull Ring Trading Estate and a Peugeot showroom.
The BBC is also building a new home for its West Midlands teams in the former Typhoo tea factory while the West Midlands Metro is being extended to connect up with the city centre and new HS2 station.