William Ashley Developments has announced its latest project – the #3.5 million rebirth of derelict buildings in Digbeth.
The Jewellery Quarter-based firm is to build 22 one and two bedroom apartments in a new scheme called The Point on the corner of Cheapside and Alcester Street.
It is the first site that development director Steve Mason has brought to fruition – only months after his appointment to spearhead site acquisition and development opportunities.
The five storey building will be within walking distance of the city centre and train stations and is at the centre of the Irish Quarter which is undergoing a multi–million pound regeneration.
Mr Mason said: "The Point is ideally located for those who work in Birmingham."
The ground floor will have a shop included.
Marcel Woodhouse, director of city centre luxury living specialists York Laurent, said The Point was in an ideal position to take advantage of the city’s buoyant rental market.
And he predicted that apartments there would be snapped up quickly.
"The position is perfect, in a very up and coming area of Birmingham, but one that is still affordable.
"This is one of the few remaining areas near the city centre that is accessible price-wise to first time buyers."
He added that from York Laurent’s point of view The Point could not be built quick enough.
"Demand for rental property in the city is outstripping supply and we are looking to areas like Digbeth for the next big expansion in the market.
"It is at the heart of the #2 billion regeneration programme currently sweeping through Digbeth in particular," he said.