UK: The city of Sheffield’s development initiative will be moving into its third phase soon, with a new development featuring serviced apartments.
Known as Steel City, the initiative is an attempt to revitalise the industrial city’s former wealth.
The deal will be led by development firm Future Generation, who specialize in student accommodation across the UK. They are responsible for creating a set of 19 serviced apartments alongside the existing student accommodation nearby.
Future Generation was able to secure a £39 million refinancing package allowing it to secure completion of the project.
The group hopes to use the proximity and ease of access to make visiting students easier. As the buildings will all be in converted former steel workshops, the unique aesthetic will also draw visitors.
The development will also include a rooftop social space and an interactive fitness studio. While there were concerns that the development of the coronavirus may have impacted the funding, Future Generation believes he approval shows their business’ strength.
Andrew Southern, chairman of Future Generation said: “We are going to weather this storm and come out of it even stronger, with positive consequences for the incomes of those firms and workers who help us to make these developments a reality. The completion of Steel City will also be an incredibly proud moment for me personally. Sheffield is my hometown and I still have plenty of family and friends there.”
Many serviced apartment developments have been given approval recently in spite of the virus, both elsewhere in the north and around the world. </p
