Residential investor Get Living has completed the purchase of a 7.5-acre site in the Merchant City district, with outline planning consent in place for the new housing.
Work will now start on detailed planning for the neighbourhood, with plans in place to begin phased construction of the project within 18 months.
Deputy Chairman of Get Living, Rick de Blaby, said: "We have been busy over the past 4 years honing our operational know-how at East Village, where we hold 1,439 homes and will soon be opening our doors in Elephant & Castle, where we will be bringing 652 homes for rent. We have built a business and a Get Living brand that is scalable across a number of large sites across London and the wider UK; this is the first of several important steps to realise our vision for ambitious growth.
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"We are very excited and proud to be investing in Glasgow, a City steeped in a rich commercial, educational and cultural history and with an ambitious outlook to match our own."
Glasgow City Council Leader Frank McAveety said: "I am delighted with this news, another sign of the confidence developers and investors have in the Merchant City and Collegelands as one of the UK's most attractive investment destinations.
"The track record of the developers points to another attractive neighbourhood being created in Glasgow. This development aligns well with the council's city centre residential strategy, and our wider plans for the city centre, and I look forward to seeing it progress."
(LM/MH)
