Councillor Chris Poulter, leader of Derby City Council, joined developers St James Securities, representatives from main contractors GMI Construction, funders Grainger plc and other key stakeholders at a ground-breaking ceremony to mark the start of piling works on the site of the former Debenhams store on Victoria Street.
Phase one of the scheme includes 259 one and two-bedroom Build to Rent (BTR) apartments, which will be forward funded, acquired and operated by Grainger plc, the UK’s largest listed provider of private rental homes.
The centrepiece of the development will be a new public square on the site of the former Central United Reformed Church, which will also be delivered as part of the first phase.
D2N2 LEP have contributed £8m in funding for the project via the Local Growth Fund.