Swan Group has recently concluded a contract with PfP Capital to deliver the units in the development, which will be close to the city centre and is part of the Clyde Gateway regeneration project.
The five blocks of the Newhall Street development will provide a mix of one- and two-bed flats and three of the blocks will be next to the River Clyde walkway.
Phil McGinlay, managing director of Swan Group, said: “Swan Group’s Newhall development is set to revitalise an area in Glasgow’s east end which will offer residents unrivalled, safe access to the city centre. Not only will the 151 flats be positioned next to the River Clyde walkway, they are right next to Glasgow Green offering a traffic free route through to the heart of the city.
“We look forward to delivering more high-quality affordable homes for the workers and families who are integral to the future of Glasgow city.”
William Kyle, fund director at PfP Capital, said: “We are delighted to be working with Swan Group to deliver a further 151 high-quality affordable homes for the Mid-Market Rent Fund. This is a prominent site, ideally located for access to the city centre which will provide much needed additional affordable homes for the city together with the development of a prominent brownfield site.”
Martin McKay, executive director of regeneration at Clyde Gateway, said: “I am delighted to see Swan Group’s ambitious plans reach the next stage of delivery. These quality new homes will add significantly to Clyde Gateway’s regeneration aims as ‘the place’ in which to live and work.
“We are always really encouraged by the demand for new homes in Clyde Gateway and Newhall Street is perfectly located for local communities to readily access green space and active travel.”