Park Place is a £50m apartment complex with shops underneath next to a council car park off St Georges Way.The development is one of a series of blocks around the town that have been regenerated into new apartment blocks in recent years. They include Vista Towers, Skyline and Brickdale House.
These private developments are helping regenerate parts of Stevenage alongside Stevenage Borough Council’s planned regeneration of the town centre for which a developer is in the process of being secured.
Park Place marks another important step forward in the regeneration of Stevenage town centre. The £50m development demonstrates the confidence that investors have in the future of the town.”
Visitors to the development’s sales and marketing suite can view floor plans, brochures, computer-generated imagery and models of the 202 Manhattan studios – one and two-bedroom homes ranging in price between £179,950 and £384,000, some of which are available on government’s ‘help-to-buy’ scheme.
Managing partner of MBU Capital, the property developer and leading investment management firm behind the scheme, Ajaz Ahmed said:
“Stevenage is my family’s local shopping centre. We want to see the town thrive and bringing investment, jobs and new housing right into the heart of the town centre is the best way to back the town’s regeneration.
“As the first New Town, Stevenage pioneered the principles of modern urban design. We have designed Park Place to celebrate the town’s rich past whilst creating a new destination. It is set to unlock an exciting new future in Stevenage.”
Park Place is due for completion in spring 2018.