The project has been made possible by an £18.1m loan from specialist lender Maslow Capital to developer Yari Investments Limited.
Work on the 121 apartment scheme in Feltham will start imminently and the project is designed to “transform the way young professionals experience city living in the borough.”
MY Construction will use modular construction techniques and its own offsite production facility to deliver the development.
Each units will offer residents their own private studio complete with bedroom and bathroom, while also providing shared communal spaces such as lounge, kitchen, dining areas, and co-working space to foster a sense of community within the building and encourages socialising between households.
Nir Zamek Owner and Director at Yari Investments Limited said: “We are thrilled to have received the support of Maslow Capital in bringing this exciting co-living development to fruition. Their expertise in development finance has been invaluable in helping us bring our vision to life, and we can’t wait to welcome young professionals to this fantastic property.”
Rachel Gordon, Head of Deal Execution at Maslow Capital said: “This project exemplifies Maslow Capital’s commitment to supporting the development of high-quality, innovative housing solutions in the UK.
“The use of modular construction techniques in this project not only allows for faster, more efficient building, but also enables our borrower to deliver a development that is more environmentally friendly.
“We are pleased to support the use of such innovative methods and believe they will play a key role in the future.”