A new development from West Midlands property company Urban3 is now nearing completion.
Located in Erdington, Urban Gate is situated on the corner of Streetly Road and Dallas Road and is being transformed from a former bowling green into 20 two-bedroom apartments priced from £137,500.
Following the launch of a show home at the end of January the development is now 50 per cent sold.
Urban3 was formed in March 2004 as a joint v enture with West Midlands-based property group Nurton Developments.
It is owned by the Bradshaw family and ex-Crosby developer Kevin Cooper.
Funding has been provided by Bank of Scot-land Corporate in Birmingham in the form of a £10 million revolving facility.
In addition to sites in Stafford and now Erdington, Urban3 is also currently developing a third complex in Walsall, Keepers Gate.
Due for completion in September, more than 70 per cent of the units were sold at the official launch last month.
Mr Cooper, Urban3's managing director, said: "The funding from Bank of Scotland Corporate has provided us with the opportunity to work on a number of developments at the same time, enabling us to quickly establish a brand, which is not often seen with new enterprises.
"The capital gained from the success of our developments, coupled with the ongoing facility, gives us an excellent platform from which to expand."
Adam Pearson, associate director at Bank of Scotland Corporate, added: "The team has ambitious aspirations, and our ability to assist them with funding will help them to achieve their goals."