The Wirral-based contractor has acquired a 0.6-acre plot on Conway Street in Birkenhead town centre for a sum believed to be around £2m and will construct a seven-storey apartment block made up of 132 apartments with a start on site expected in May.
The land was previously owned by Marcus Machine & Tools, which sought consent for the scheme, and forms part of the wider regeneration of Birkenhead and Wirral Waters.
VPP is negotiating with a social housing fund which would purchase the development upon completion. The firm is also in talks with a local housing provider to manage the development.
The land was formerly occupied by the Ritz cinema, built in 1937 and latterly used as a bingo hall before being demolished in 2001.
The development will provide a mix of one-bed and two-bed apartments and 12,300 sq ft of ground floor commercial space.
Approval for the project was granted in June 2018 and the expected completion date is August 2021.
A spokesperson for VPP Construction, said: “The homes will provide a much-needed kick-start to a much larger regeneration programme. Our aim is to improve Birkenhead and bring a fresh new look which will hopefully attract the investment required to improve the area. We have set a budget aside to invest in local charities and food banks to make sure the people of Birkenhead and the a Wirral benefit from what we are doing.”
Garry Usherwood Associates has drawn up plans for the development and Knights advised on planning. Fadders Global is advising on the negotiations with the social housing fund.