Leeds-based Torsion Developments and Khalbros Group have agreed a £55m loan from Maslow Capital.
The facility will support development of the joint venture’s Phoenix scheme of 367 homes on Saxton Lane, to the east of the city centre.
The £82m gateway scheme will see two residential towers of 18 and 22 storeys, and will also include public open space with pedestrian pathways, basement car parking and communal amenities.
Construction will incorporate offsite manufacturing to create the frame and facades, providing greater quality control and speed in development. Torsion and Khalbros have sold 150 of the homes off-plan in six months to a combination of owners and investors.
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