One Eastside will be the city’s tallest residential tower at over 154m and includes 667 build to rent apartments built near to the new HS2 station on Curzon Street.
The scheme comprises two buildings, with residential gardens and courtyard spaces, as well as a gym, cinema, and residents’ sky lounge on the 51st floor offering views across the city.
The 46-month build programme is set to start on site after the contractor announced within weeks.
Anthony McCourt, CEO of Court Collaboration, said: “This £200m investment by Pension Insurance Corporation confirms that confidence in the build to rent sector continues to grow in Birmingham.
“One Eastside will see Court Collaboration leading the way in the West Midlands Build to Rent market with this landmark development being the jewel in the crown of the city’s BTR offering. ”
Delphine Deasy, Head of Build to Rent at PIC, said: “PIC is a significant and purposeful investor in the UK’s infrastructure and housing, and I am delighted that we have now acquired our fourth build to rent project, investing £200m into central Birmingham.
“The 667 apartments development will have a positive effect on the local economy, including creating hundreds of new job opportunities and supporting the training of local students. At the same time, it will provide long-term, secure cashflows to back our policyholders’ pension payments in the decades ahead. We are actively engaged on a number of similar opportunities across the UK and have a strong pipeline going into 2023.”