'This residential-led scheme will have social housing at its heart': Northern Ireland developer reveals plans for new Belfast city centre apartment scheme after acquiring student accommodation development site
The developer has bought a one-acre Library Street site and plans to submit a new planning application for a mixed-tenure apartment scheme, including social housing, as part of its continued investment in Belfast’s living sector
One of Northern Ireland’s leading developers has completed the acquisition of a one-acre site on Library Street in Belfast city centre.
Previously intended to be student accommodation, Lotus Property will submit a new planning application to deliver a residential apartment scheme on the site, further growing its investment into the living sector.
The proposal is at concept design stage, with Lotus Property working with its development team and architects to bring forward a residential-led development that will include a mix of one, two and three-bedroom apartments alongside open shared amenity spaces.
The scheme will include social housing as a core part of the development, reflecting Lotus Property’s strategic focus on creating new homes and communities in a quality residential environment. It also affirms the developer’s long-term commitment to supporting regeneration in Belfast city centre. The new development, once completed, will include homes suitable for singles, couples and families across the mixed typology apartments.
Michael McCafferty, investment director at Lotus Property said “We’re delighted to secure Library Street, building on our growing portfolio of city centre developments including Havelock House and the Staycity Aparthotel at The Well.
“The acquisition underlines our long-term commitment to Belfast and our strategic focus on the Living sector. This residential-led scheme will have social housing at its heart, addressing clear unmet demand in Belfast city centre. We remain highly acquisitive and are actively pursuing similar opportunities across the city.”
Alastair Coulson, managing director at Lotus Property added: “Library Street is about more than a site acquisition, it’s about creating homes in the heart of the city for people in need of housing. Placing social housing at the centre of this development reflects our belief that city centre living should be inclusive and genuinely benefit local communities.
“We’re committed to playing a long-term role in Belfast’s regeneration, delivering developments that support sustainable neighbourhoods, not just buildings. Our focus on the living sector is driven by social need, and we will continue to pursue opportunities where we can deliver lasting community impact.”
Lotus Property expects to progress the concept design in the coming months ahead of submitting a planning application, with further detail on layout and housing mix to be brought forward through the planning process.