Plans have been lodged to build more than 700 new apartments on a run-down car park in Birmingham city centre.
Moda Living is behind the £258 million scheme to regenerate Ludgate Hill Car Park, known as the 'bomb site', with a series of new blocks reaching up to 39 storeys.
The company, which is on site in Broad Street building the 42-storey Mercian development, is seeking permission to build 722 units, ranging from one to three bedrooms which will be available to rent only.
The project will be called Great Charles Square and there will also be a gym, cinema room, roof terraces, public realm and other shared facilities as well as commercial units and shops.
There will be parking for around 40 cars and 460 bikes.
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As with its Broad Street project, it is working with funding partner Apache Capital and planning director James Blakey recently told BusinessLive the company was already on the lookout for its third site in the city.
The 2.6-acre car park, at the corner with Great Charles Street Queensway, has long been the subject of speculation regarding its future with plans dating back two decades to turn it into a bus station.
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Sterling Property Ventures, the company developing 103 Colmore Row, more recently unveiled plans to create a new hotel and apartments on the site.
Moda Living's managing director Tony Brooks: "Our build-to-rent projects are introducing a completely new way of living and working.
"We provide more opportunities, amenities, options and facilities than ever before, all built sustainably with an especially strong commitment to their local communities, something that is even more important at difficult times such as this.
"We are certain that service, health and wellbeing and support for residents must be at the core of what we do. Despite the current uncertainty and the challenges facing us all, we remain absolutely committed to Birmingham.
"We believe this submission puts the interests of the city and people of Birmingham first.
"The local authority has been fantastic in helping to guide us on our journey and we look forward to continuing to invest in the city when the present situation improves."
Birmingham City Council leader Ian Ward added: "We are delighted to see Moda progressing with these impressive plans to transform this long vacant plot in the heart of our city.
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"Bringing quality, new housing stock to the city is of paramount importance to the city council.
"Our aim is to continue to create a world-class city centre by planning for the next 20 years of transformation and growth and this project is an important part of that."
Richard Jackson, co-founder and managing director of Apache Capital, said: "As a long-term investor and operator, we are committed to delivering and expanding our build-to-rent pipeline with Moda Living.
"Despite the wider disruption caused by covid-19, the sector remains highly attractive thanks to its defensive qualities and strong fundamentals, with a clear mismatch between demand and supply.
"Looking specifically at Birmingham, the fundamentals remain sound combining a prime site location with one of the youngest populations of any large city in Europe, significant infrastructure investment and a growing number of large employers.
"Together, these will all support structural demand for high-quality rental housing."