Initially the contractor will build 46 social rent apartments for its sister urban regeneration specialist ID4 Living on a derelict site to the south of the town centre.

The £6m Hopes Carr scheme will be the first element in the town’s new Covent Garden Village, a mixed-tenure residential-led urban village which will deliver 250 new homes, new shops and a park.

Seddon and Stockport Council will work in partnership to deliver the new neighbourhood.

Designed by architects Bowker Sadler, the five-storey block of 46 new apartments will be owned and managed by Stockport Homes.

The development, due to be completed in early 2013, will feature two retail units at ground-level and 35 underground car parking spaces.

“We are excited to be involved in this transformational town centre project and the potential it has to act as a catalyst for future investment in the wider area which we are also involved in, developing plans with the Council,” says Mark Hudson, Director of Technical Services for Stockport Homes.

Cllr Kevin Hogg, Executive Member for Regeneration at Stockport Council, said: “This marks a milestone in realising the ambitious plans for Covent Garden Urban Village – a vibrant community of family homes.

“As part of our town centre regeneration plans, we identified this area as an ideal location for housing due to its convenient location, proximity to amenities and transport links.”