The contract signifies an entrance into the later living sector for McAleer & Rushe, which the business has strategically targeted to diversify its offering.

The new development, which brings to life the former ABC cinema site, will create 167 one and two bedroom later living apartments arranged around a central courtyard with nine lower ground floor retail units.

Construction works are set to begin this month at the brownfield site at the corner of Church Road and Mount Pleasant Road

RVG has committed to developing the site as a whole-life net zero carbon project, meaning the new community will be net zero carbon across both its development and operational lifespan. The development design will implement an all-electric heating and hot water model through roof top ASHP systems.

The site has extremely complex site topography, including a 9m differential in levels and positioned above a Network Rail Tunnel.

Shane McCullagh, Director at McAleer & Rushe said: “McAleer & Rushe has a long and established history of delivering homes, rooted in our origins within social housing in Northern Ireland and our expansion into the later living sector reflects a natural evolution of our capability.

“With decades of experience in both hotel and residential projects, including build to rent, co living, and affordable housing, we are well positioned with an enviable skillset and proven track record to enhance buildability for our industry partners.

“We see the later living sector increasing in the market, to meet the needs of today’s society for modern retirement housing that centres on community and social connection. We look forward to working closely with RVG to bring their vision to life, to create and integrate an enhanced retirement community with the wider urban town setting, benefiting all in the transformation of this brownfield site.”