Developer Crosby Homes' (Special Project) Southside scheme in Birmingham has been hailed as a 'model for urban living' with just 70 of the original 461 apartments remaining for sale.
Designed by award winning architect Glenn Howells, the now completed scheme is split into four cores with a central boulevard creating a new walkway and link to other proposed developments in the south side area.
Phil Crabtree, assistant director for planning of Birmingham City Council, said: "The City Council believes Southside to be an exemplar for high quality urban regeneration in the type the government is seeking to encourage in the development industry."
One of three new schemes planned for the area by Crosby creating nearly 1,000 homes, Southside has been a success from day one with the first phase of 48 apartments selling out in a week. Some two years later and the scheme is complete and nearly sold out.
The company claims that proof of its popularity can be found in rental demand and figures.
It says that apartments are being rented for between £600-650 for a one bed and £750-850 for two bed and new landlords are seeing their apartments renting extremely quickly.
Many of the homes have been bought by investors, with strong interest from the Irish market and buyers attracted from as far afield as Dubai and Hong Kong, it adds.
The Southside scheme combines apartments with affordable housing and mixed uses such as shops, restaurants and small-scale offices let by big brand names such as Tesco Express, William Hill and Subway.
Crosby says this meets the Government's desire to build sustainable communities by creating a sense of place where future residents want to live and work.
Mr Crabtree added "The city council has formed an excellent relationship with Glenn Howells and Crosby Homes. The development is very high quality and complements the renovation of the back-to-back houses that are now managed by the council's Conservation Trust."
Adding to the successful completion of Crosby's South-side scheme later this year will be i-land, a development of 272 units in Essex Street.
A further scheme, Unity House and The Armouries is currently in for planning and will create approximately 170 apartments in the area.
Karen Anderson, sales and marketing director for Crosby Homes (Special Projects), said: "By taking ownership of an area you can do much to improve the public realm and we are always keen to work with Birmingham City Council to enhance the overall attractiveness and desirability of an area, therefore creating a more sustainable environment where people enjoy living."
Crosby says its acquisition by Lend Lease presents even greater opportunity for creating sustainable, mixed use communities.
"We now have the ability and strength to create whole new urban communities." said Karen Anderson.
"This means not just homes but the whole infrastructure to support them including new retail and commercial elements plus roads, schools and health centres.
"Working in conjunction with local planners we hope to secure some sizeable schemes in the future, however, always running in parallel will be landmark sites such as The Orion Building and Southside and we are exploring opportunities on every level."