Masshouse Developments has submitted a proposal to Birmingham City Council for a second 14-storey landmark residential building at its mixeduse Eastside scheme, which it says could add some £23 million of high specification apartments to the city living market.
Following the success of the 173 apartments at the first residential building for Masshouse, plans have been presented to virtually double the current provision at the scheme.
A further 163 studio and one-bedroom designs will be situated in an adjacent building, designed along similar principles to the existing building with its predominantly white elevation.
It is anticipated selected dwellings will have balconies, providing homeowners with privileged views of the new eight-acre City Park.
Subject to planning permission, the build programme could be underway as soon as autumn, with first completions in 2008.
Nick Payne of Masshouse Developments said yesterday: "Masshouse was launched to the market last September and has been a huge success. The confidence city centre buyers have shown in investing in Eastside's future has resulted in a strong sales rate.
"And as we prepare to hand over the first apartments to occupiers this autumn, we expect the second residential building will build on this momentum and further boost Eastside's credentials."
He added: "Located midway between Bullring and Millennium Point, Masshouse has found its natural market with city workers.
"And the demand among owner occupiers for a further selection of high quality apartments is rooted in our offering of a contemporary internal specification, designed for the needs of today's apartment dweller.
"Yet this standard of living does not come at a premium, with price per square foot at Masshouse stacking up as highly competitive compared to other city centre schemes.
"The same level of attention to detail is seen in the plans for the proposed second residential building. This is in keeping with purchasers' expectations."
Prices for the last remaining apartments at the first building start at just £125,000 for a studio, with two bedroom homes from £215,000.