UK-based developer and operator of rental communities Moda has secured planning permission for the first Studio Living neighbourhood in Bermondsey, London, UK.

The company will now construct a neighbourhood on Penarth Street worth £134m ($171m), with 283 studio homes and amenity spaces included in the rent such as a 24/7 gym, games room, residents' lounge, roof terrace, and private dining room, along with laundry and secure cycle storage units.

The neighbourhood will consist of 47 affordable units.

The property is located in South London's city centre and is close to several popular tourist attractions.

Every home will be equipped with smart technology that generates real-time wellness scores based on external variables such as temperature, air quality, and quantities of light.

Residents can access this information and more by using the MyModa app, which also lets them book tickets to the communities' events, establish community-related groups, take advantage of exclusive brand collaborations, and report any maintenance-related issues to the 24-hour concierge.

Construction on this new project will commence in the following months, with initial resident move-ins expected to begin in 2026.

Currently, Moda has a pipeline of projects worth a total of £1bn that are all concentrated in London and its south-east areas.