It is aiming to start construction this year.
The Royal Borough of Kensington & Chelsea has granted detailed planning permission for 84 new homes across two sites in the borough, comprising 53 new homes at Young Street and 31 new homes at Hortensia Road.
At 19-27 Young Street W8, which is between High Street Kensington and Kensington Square, an existing multi-storey car park will be replaced with a block of flats.
The Hortensia Road site, on the corner with Kings Road in SW10, is currently a surface car park.
Grainger was selected by the borough in September 2012 to develop and manage mixed tenure housing on council land. More than 50% of the homes across both sites will be built specifically for the private rented sector. These homes will be managed by Grainger under a 125 year agreement, for which it will receive a management fee. The council will retain the freehold and will share the long term rental income with Grainger.
Grainger development director David Walters said: "We now look forward to demonstrating our considerable expertise in delivering some of the first truly long-term professionally managed private rented homes in central London."
The schemes were designed by Assael architects. DP9 was the planning consultant.
Pictured below is the planned development on Hortensia Road, viewed from King's Road (looking west)
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