UK: Plans for an aparthotel and BTR apartments in Cambridge have been put forward for public consultation.
Vertex Living, which would manage the property if approved, has proposed the development on the site of the former National Institute of Agricultural Botany in Huntingdon Road.
The plans include 297 BTR apartments, a 201-room aparthotel, a cafe, microbrewery and bike shop, as well as “pocket parks” on site. The plans have no formal planning status at present, but a planning application is expected early next year after the consultation.
Vertex Living is the managing agent for Marchingdale Developments, which already has permission to convert the former NIAB offices into 149 apartments.
A spokesperson for Vertex Living said: “The private rental market is the largest housing tenure in the city and currently 49 per cent of all households in Cambridge rent privately. The build-to-rent concept is new to Cambridge, however the council has acknowledged that there is a need and demand locally for this form of accommodation. The new homes are primarily targeted at those people who cannot access social housing but also cannot afford to buy due to the high cost of property in Cambridge.”
Vertex Living said the development would create 68 permanent jobs and a further 15 jobs indirectly, as well significant employment during the construction phase.
