The first major build-to-rent housing complex in Wales will be constructed in Cardiff city centre.
Planning permission has been given for the homes on Dumballs Road, south of Cardiff Central train station.
Developer and operator of private rented housing PLATFORM_ are bringing 206 rental apartments to the site of the former Browning Jones & Morris builders merchants premises.
The new construction, which will be rented directly from PLATFORM_, will comprise of a mix of one and two-bed units within three blocks, plus more than 7,200 sq ft of leisure space, including a residents' lounge, gym and communal roof terraces.
The site also includes two ground floor retail rental units, one of which will be a convenience store, and a new, landscaped public square between the triple towers.
Working in partnership with local developer Urban Centric on this initial planning stage of the site, the successful application means work can now begin on site this spring. The company expect a completion date of winter (quarter one) of 2021.
The construction company chosen to deliver the project has yet to be announced.
The apartments will be offered to tenants fully furnished, so new residents can just turn up with a suitcase and start enjoying life at the complex.
The level of rent per calendar month (pcm) for the Cardiff apartments has yet to be released by the company, but there are currently two bedroom apartments available to rent in a number of the company's other sites.
The complex in Stevenage, Herefordshire is currently offering a two bedroom apartment to prospective tenants for £1,000 per calendar month.
The rent increases to approximately £1,150 pcm in Bracknell near London and £1,205 pcm in Crawley, Surrey.
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According to the company, the rental price in Cardiff will be pitched at a level to attract at least 50% of the prospective tenants from local workers.
PLATFORM_ say the benefits of renting a unit from the company in the new Cardiff complex are multifaceted, including taking the stress out of finding a quality home to rent and dealing directly with a professional landlord who operate and maintain the building.
There's also the opportunity to discuss tenancy length directly with the company, from short-term stays to longer term living over a number of years.
Even if you don't fancy renting at the PLATFORM_ site, wherever you rent these are your rights:
The area south of the city centre along Dumballs Road to Cardiff Bay is due to see a total transformation over the next 10 years.
Work is already underway with the continuing development of Central Quay, south of the train station, and the construction of the brand new Brickworks apartment complex on the adjacent Trade Street.
Additional proposed construction plans for the area include a development of apartments, affordable housing, retail and office spaces, garden squares, cycle paths and a new bridge by developer Vastint.
Cardiff Council is also in discussion to secure more than 450 council homes to be built as part of the redevelopment of the site along Dumballs Road, to ensure affordable housing is available in the area.
With the completion of the new BBC Cymru Wales headquarters in Central Square and the relocation of the HMRC tax office from Llanishen to Park Street, there will be an influx of thousands of employees into the centre of the capital, and the demand for homes in the area is expected to rapidly increase.
Grangetown, the suburb nearest the area to be developed, has already seen a rise in demand for homes for sale and prices. Now PLATFORM_ say they can offer workers the option to rent, rather than buy, in a central location.
PLATFORM_ chose Cardiff as its latest acquisition due to the momentum of the city's growth and development, and the level of quality employer and employee this is attracting to the area.
Jean-Marc Vandevivere, CEO at the company says: "We will be delivering the high quality, well priced, purpose-built rental housing that will be crucial to ensuring Cardiff's success, as the city looks to capture and retain talent to support its ongoing growth."
