The project is believed to be the first of its kind in the city which will see apartment block developed near the Gun Quarter.
The £16 million ‘co-living’ project near the Gun Quarter,in Hospital Street, for around 180 people accommodating in a mixture of flats with shared facilities and self-contained apartments.
Co-living schemes can usually accommodate more people than a traditional house share and have more of a ‘community’ feel with shared facilities such as bathrooms, kitchens, living rooms and other amenities.
The concept has gained traction in recent years in the US and London but is yet to take off massively in UK the regions, with the country’s first purpose-built co-living scheme receiving planning permission in Manchester last year.
The place in Hospital Street, currently occupied by a single-storey garage, would be demolished if it will be approved by Birmingham planning chiefs.
An application is currently being drawn up Jewellery Quarter-based developer Volume.Property and is due to be submitted to the city council within the next three months.
Founder Anthony Laville said: “It’s an immature market so it does come with risks but it is a challenge I’m well up for.
“There is no scheme currently being done in Birmingham to my knowledge so it’s an ambitious project but the demand is there from a demographic that’s crying out for something like this.
“We have plans to create a new landmark development for Birmingham.
“It would have all-inclusive bills, in-house maintenance, wi-fi, laundry and community outings.
“The target market for this is young professionals aged 21 to 35 who are looking for that social lifestyle and central living in Birmingham but require more secure, social aspects, entertainment and convenience on site.
“The application site is less than 20 minutes’ walk to the city centre so it’s a great location.
“The affordable rents will particularly attract recent graduates who would otherwise live in houses in multiple occupation.”
The development is going to start later this year and is expected to take around 18 months to complete, subject to planning permission.
Volume.Property will also operate the property which will be called Volume One.
Mr Laville added: “The building and concept in general will bring something unique to the Birmingham market as it takes pressure off areas that have a high density of houses in multiple occupation like Edgbaston, Erdington and Kings Heath.
“It will attract those very occupants who are looking for central living but I find it hard to get the affordability.”