A £15 million investment proposal to deliver the first build to rent residential accommodation in Belfast city centre have been recommended for approval by Belfast City Council.
The joint venture by Lacuna Watkin Jones on Academy Street features 90 one and two bed apartments.
The proposal is the first of a kind ‘build to rent’ accommodation in the city already comon elsewhere in the other UK cities . According to the developers Belfast is already playing catch-up to other cities, and supporting the recommended approval will illustrate that Belfast is open to ‘Built to Rent’. The model marries city centre apartments with services more commonly associated with the hospitality sector like a concierge, management, communal amenity space and a ground floor café.
The 16 storey landmark development has been designed by award winning architects Feilden Clegg Bradley, responsible for the nearby Ulster University campus.
The new form of accommodation is designed to appeal to urban professionals, small families, corporate renters, visiting professionals and downsizers looking for quality and accessible accommodation designed around flexible city centre living.
“This project has taken on new importance recently, since the Primark fire has hit Belfast’s city centre economy, said Lacuna Developments director Anthony Best.
“This project sends out an important message that Belfast’s city centre is still thriving and growing – and is transforming into a great place to work and live, taking full advantage of the city centre’s growing offer of cafés, restaurants and businesses.
“Build to Rent has already be proven as part of the solution to building a city population, and Belfast is playing catch-up with other cities in the UK and Ireland.”