Wavensmere Homes has secured planning consent for the £150m ($201.14m) Wolverhampton Canalside South housing-led development in England, UK.
The 17.5-acre site will be transformed to feature more than 530 high energy performance-rated homes, including a 20% affordable housing provision, seven acres of green space, and a variety of commercial amenities.
Designed by Glancy Nicholls Architects, the low-rise development aims to introduce a new pedestrian route that will cut walk time to the city's centre by 20 minutes.
Canal & River Trust is also working in collaboration for this project.
The waterfront development is poised to redevelop the Canal & River Trust-owned former Crane Foundry site, along with Wolverhampton City Council's former British Steel site and adjacent land.
Wavensmere Homes managing director James Dickens said: “As a timeline, Wavensmere was announced as the new developer for this nationally significant project last December, and we are now in a position to confirm that we will be starting work at Canalside South before the year is out.
“This scheme will be a catalyst for a new wave of ambitious city living, which is vital to see the Wolverhampton pound spent locally.”
Construction by Wavensmere Homes will include 378 two- and three-bedroom townhouses and 145 one- and two-bedroom apartments.
A co-living building with ten units, each containing six bedrooms, is designed to offer affordable living options for young professionals.
In total, 54 houses and 80 apartment and co-living bedrooms will have waterside views.
The development will incorporate a range of sustainable technologies such as air-source heat pumps, solar panels, and mechanical ventilation with heat recovery systems.
Furthermore, each house or parking space will have electric vehicle (EV) charging facilities, with additional EV chargers for visitors.
This development forms part of the broader Wolverhampton Canalside master plan, which aims to deliver approximately 1,000 homes to address the housing needs of the city and the surrounding region.
Wavensmere Homes currently has 3,500 homes under construction or in the planning stages, including the £175m Nightingale Quarter project.
