Midlands-based commercial developer Stoford Developments has set up a residential arm to be known as Revurban Developments.
Jon Andrews, former development director with Crosby Homes, will sit on the board as managing director.
David Brown, development director with Stoford, will also join the board as a director along with Stoford founders Chris Lea and Dominic Stokes.
The company, based in Stoford’s offices in Birmingham, will be financed by Stoford along with private equity from the four board directors.
Bank funding is also being sourced.
Revurban is in negotiations to build two schemes in Birmingham worth more than £30m.
The company is looking for brownfield sites to develop high-density mixed-use apartment schemes in urban locations.
References: EGi News 06/02/04
