Adderstone Group said it submitted updated plans for a proposed 124 apartment and commercial scheme on a vacant brownfield site on Newcastle Quayside.
The 1.5 acre site, adjacent to St Ann’s Quay, would be one of the last to be developed on Newcastle’s Quayside.
The development would be called “North Shore.”
More than 400 jobs would be created as a result of the scheme — 160 during construction and 240 through supply chain.
The scheme would contribute £2.7 million GVA (gross value added) in economic output.
Adderstone is working with international design practice Ryder Architecture on the project.
The updated proposals include 122 two-bed, glass fronted apartments, two one-bed apartments and a 423 sq. m. commercial unit on the ground floor.
Economic research has been carried out for the scheme by planning and development firm Lichfields.
Mark Clasper, director at Ryder said: “The latest amendments address feedback following an extended consultation exercise and highly constructive input from North East Design Review Panel.
“Ryder are delighted to be working with Adderstone Group on this scheme which aims to deliver a high quality architectural solution, providing exceptional living and communal accommodation on Newcastle’s iconic Quayside.
“It is a considered response to the significant physical and geotechnical challenges.”
North Shore is the latest project in a £150 million pipeline of work being undertaken by Adderstone Group.
The proposed pipeline includes a 51-house residential scheme to be known as Christon Park on brownfield land which was the site of the original Greggs Bakery headquarters in Gosforth.
Ian Baggett, Adderstone Group Founder CEO, said: “Our investment and development strategy is based on our conviction that Newcastle will become the fastest growing city in the Northern Powerhouse.
“The team has worked very hard on these projects and it makes us all very proud to be in a position to make such a difference in our home city.”