Placefirst will fund and build 140 new homes at Farringdon Row and 80 homes in Nile Street and Villiers Street in Sunniside.
Farringdon Row is the second residential neighbourhood within the Riverside Sunderland masterplan. A planning application is anticipated later in the year, with development planned to start in spring 2024.
The Sunniside scheme forms part of the council’s City Centre Housing Ecosystem, which received support from Round 1 of the government’s Levelling Up Fund.
Placefirst chief executive David Mawson said “The Riverside Sunderland masterplan is one of the most ambitious residential regeneration projects in the UK and Farringdon Row and Nile Villiers will play a big part in setting the standard for BTR developments throughout the northeast. We look forward to progressing with the plans and bringing both these schemes to life, bringing much needed quality new rental homes to the area.”
Sunderland City Council chief executive Patrick Melia said: “The rate of transformation at Riverside Sunderland is rapid, and reflects our determination and ambition to make this a world-class place to live, work and play.
“Building high-quality homes in exciting new communities is key to our plan for Riverside Sunderland, and we’re delighted to be working in partnership with Placefirst to bring forward the second residential scheme in this game-changing new urban quarter.”
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