Scheme expected to deliver 30% affordable housing
Reading Borough Council has signed a development deal to deliver the £250m regeneration of the town’s Minster Quarter.
Under the deal the 600-home scheme, which is at the pre-planning stage, will be developed by a joint venture formed by the council and McLaren Living, which develops build-to-rent and co-living accommodation.
The scheme will deliver 600 homes, of which 30% will be for affordable tenures, along with 40,000 square ft of new commercial space, a 102-bed hotel, a community centre and public space.
The project will see the regeneration of a 5.2-acre site formerly occupied by the civic centre. The scheme is part of the wider Minster Quarter Regeneration Area, which also includes a 1,200-home redevelopment of Broad Street Mall by McLaren Living.
Liz Terry, council leader at Reading Borough Council, said: “This important milestone marks a significant step forward in the regeneration of the Minster Quarter.
“The Minster Quarter Central project, being delivered by the council in partnership with McLaren Living represents an unprecedented opportunity to deliver one of the best located mixed-use development opportunities in the UK, right in the heart of Reading town centre.”
Matthew Biddle, managing director at McLaren Living, said: “We look forward to continuing to work with our partners Reading Borough Council, stakeholders and the local community as we progress with our plans to deliver a new town centre quarter.”
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