Developer Brickland has partnered with US real estate investor Heitman to take forward two residential towers in Manchester as well as the Baltic Triangle project in Liverpool.
Brickland has reached agreement with Heitman to secure funding for the two build-to-rent schemes, with LIV Group appointed to act as adviser.
The Manchester development (pictured), which is situated close to the Cornbrook Tramstop south-west of the city centre, will consist of two towers of 16 and 19 storeys comprising 363 one and two-bedroom homes, along with duplex and townhouse apartments.
The scheme will also include co-working space, a library, a gym and resident lounge area.
Plans for Liverpool’s Baltic Triangle meanwhile involve a nine-storey building featuring 200 homes of one to three bedrooms in size.
Brickland chief executive Sam Rowlands said: “This is a milestone for build-to-rent in these Northern Powerhouse cities.
“We are bringing forward exemplar private rental schemes without cutting corners where rents will be affordable to the mass market.”
The projects are expected to complete in 2020.