Proposals have been submitted to MK Council for the redevelopment of an office block in Central Milton Keynes.
Urban Village Group has revealed plans to convert the former AGF House at Avebury Boulevard into a build-to-rent development.
The plans for the group's Westminster House development include 237 apartments over six floors, a residents gym, cinema, communal entertainment facility, resident work spaces, secure parking and CCTV security.
With proposals submitted to MK Council, the group says construction could begin early next year if planning consent is achieved.
The office block within the proposals, on 500 Avebury Boulevard, sits opposite the new Saxon Court building.
The £180m Saxon Court development will be known as MK Gateway will see the development of two new buildings; the Shed, a space for local businesses to make and create, and the Village, which, alongside 288 apartments, will incorporate a UK first - 11 vertical gardens, totalling 4,500 square feet, for residents to share and enjoy.
In a statement on the Urban Village Group website, chief executive officer Nick Sellman says: “There is a strong and growing demand for homes in the private rented sector and our Westminster House development will help to address the growing requirement in the Milton Keynes region.
“Currently, there are 4.5 million households in England now renting, representing 20% of the market, which has increased from 10% in 2001. In the next 15 to 20 years, more people are expected to rent rather than own their own homes.
"As the national housing shortage continues, with an average 200,000 homes built each year against a Government target of 300,000, there is significant scope for major growth in the build to rent sector.”
Look at new £180m redevelopment project of Saxon Court in Milton Keynes