Henry Boot Developments and Capital & Centric are targeting an April submission date for a planning application for 540 flats, within the 2.3-acre Kampus redevelopment in Aytoun Street, Manchester.
The homes will be for the private rented sector, and are being delivered across three blocks; two new-build and one an extension of the 1960s tower currently on the site.
According to plans put on show at a consultation event, the buildings will be staggered in height at between 12 and 16-storeys, and include a roof village made up of Dutch townhouses. There will also be 80 car parking spaces.
The 2.3-acre plot, which formerly belonged to Manchester Metropolitan University, currently has 250,000 sq ft of vacant space across seven university buildings.
A joint venture between Henry Boot and Capital & Centric acquired the site in 2014, and is understood to have secured backing from US fund Ares Investment Management to finance the scheme.
The library will be demolished to make way for one of the residential blocks.
An application is due to be submitted by the summer for the listed Minshull and Minto & Turner warehouses, for use by leisure occupiers. When complete, Kampus will include 42,500 sq ft of leisure units.
The final scheme is expected to total 500,000 sq ft.
The architects are Mecanoo and shedkm, while Deloitte is advising on planning. Zerum is the project manager.
Speaking to Place North West at the consultation, Adam Brady, development director at Henry Boot, said that the joint venture estimates a March 2017 start on site subject to planning, then 12 months later will begin a phased release of the apartments to the PRS market.
He said that Henry Boot and Capital & Centric would retain the ownership of the site in the long term.
Brady said: “We’ve been working hard on our plans for Kampus for over two years and it was amazing to get such positive feedback from people who live in the village and the wider community. It was really useful to get some great ideas from people who live nearby and who’ll hopefully be embracing Kampus as part of their neighbourhood.”