The regeneration of a large disused brownfield site in Gresham is being spearheaded by the mayoral-led Middlesbrough Development Corporation, which has teamed up with property developers iMpeC and Buccleuch Property.
The transformational project sits as part of the wider Middlesbrough masterplan, with the first phase including more than 230 build-to-rent flats and residential accommodation for more than 450 students.
International hotel brand Fairfield by Marriott is also in discussions to open a 200-bedroom hotel as part of the wide-scale regeneration project.
A planning application for the first phase of the project is set to be submitted in the coming weeks.
Subject to planning permission and MDC board approval, building work on the project could start as soon as early summer 2025.
David Wingfield, managing director for Construction East at Wates, said: “We’ve been working in the centre of Middlesbrough for nearly a decade, helping cement the town as a key growth region in the North East through our builds.
“The Gresham regeneration will help accelerate this potential even further, bringing a disused area back to life through the creation of community.
“We firmly believe that large-scale regeneration projects should go beyond the lifecycle of a building, providing opportunities that can support communities for generations.
“We plan to deliver more than £50m in social value to Middlesbrough through this scheme, aligning with our values to create thriving places and allowing us to make a lasting impact in the heart of the community.”
Leigh Cresswell, director at iMpeC, said: “This development can be the catalyst to wide-scale public and private investment that will transform the centre of Middlesbrough.
“Following a formal tender process that attracted most of the UK’s major contractors, we are delighted to welcome Wates as a key part of the established project team.
“While their appointment brings the vast experience and knowledge of a national business, Wates has a proven commitment to keeping its supply chain local wherever possible as well as working with the local community.
“The appointment of the construction contractor is a key milestone in the development as we move towards the submission of planning approval.”
