Belfast Harbour has lodged a planning application for the project, which would see 256 new high-quality, sustainable, energy efficient apartments built on a currently vacant site beside the River Lagan between the M3 Bridge and the AC Marriott Hotel. The proposals include a mix of studio and one and two bedroom apartments, complemented by public and private amenity spaces.
This will form part of the latest of Belfast Harbour's City Quays masterplan.
Following a public consultation in October, an application for the development has now been submitted to Belfast City Council's Planning Department, with work expected to commence in 2024, subject to permission being granted.
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The new apartments are designed for the build-to-rent market and will offer rent-only apartments that are professionally managed by an operator. Residents will be offered a combined tenancy package that includes their property rent and access to shared amenity spaces, such as fitness or workspace facilities, as well as controlled energy and utility rates. A popular model of living in cities across the UK and Ireland, the build-to-rent model aims to offer a stress-free accommodation option for residents looking for modern standards of living.
Kevin Ryan, Development Director at Belfast Harbour, said: "Creating an iconic waterfront for the city with a vibrant inner harbour is one of Belfast Harbour's key strategic goals, so we are delighted to submit these proposals for new homes that will support the growing community at City Quays.
"City Quays 4 will offer future residents some of finest waterfront living in Belfast and contribute to realising the city's ambition, set out within the Belfast Agenda, to increase the number of people living in the city centre."
A proposal for an associated residential development for affordable housing, including social provision, at Pilot Street / Corporation Street is also being brought forward by Belfast Harbour, with an application expected to be submitted in the new year. The plans seek to deliver approximately 70 new homes. The provision of these homes will also seek to address a live and pressing housing need in this area of Belfast while enhancing the vibrancy and footfall in the existing local community.
