The project, known as The Lansdowne, is a joint venture between real estate manager Long Harbour and property investment group Seven Capital, which will own the development when it is completed in 2019.
The site, on Hagley Road on the western side of central Birmingham, has full planning permission for 139 one-bedroom, 63 two-bedroom and 4 three-bedroom apartments together with a two-storey 77-space car park. Residents will also have a concierge service, cycle storage, gym and a café.
Interserve managing director Gordon Kew said: “Birmingham is currently going through a huge transformation with large areas of the city being regenerated. As part of this, the private rented sector is showing the potential for real growth.
“We are delighted to have secured this opportunity with Seven Capital and Long Harbour and we look forward to delivering this high quality project and being part of the rejuvenation taking place in Birmingham.”
Two-storey height windows will be formed in curtain walling to achieve a weather tight finish, while the building will also be served by a low-level structural steel frame car park to the rear. The new structure will sit on the site of a former low-level car park, which has recently been demolished.