Phase two of the Grade II*-listed Brutalist estate’s overhaul will bring 195 new properties and 20,000 sq ft of commercial space.
Sales will start on February 29, with the first residents expected to move in next year, summer 2021. Interest is likely to be high, as there is already a long waiting list.
The price of a one-bedroom flat will start at £135,000. Two-bedroom homes will cost from £160,000, while the starting price of a three-bedroom apartment will be set at £195,000. Unlike phase one, there is no affordable housing on offer this time.
Park Hill, famous for its ‘streets in the sky’ wide enough to accommodate a milk float, was constructed in 1961 as a bold experiment in social housing.
By the 1980s, however, it had become a magnet for crime and vandalism – but English Heritage’s decision to make it Europe’s largest listed building in 1998 protected it from demolition.
The refurbishment, led by developer Urban Splash, began in 2007. Phase one is complete, comprising 260 homes, 33,000 sq ft of fully-occupied commercial space, a vegetarian café and a nursery.
The newest homes have been designed by Stirling Prize-winning architects Mikhail Riches.
Urban Splash has teamed up with housing organisation Places for People on phase two, which has just secured a £19.9 million funding package.
Guy Ackernley, on behalf of the joint venture partners, said: “We expect a busy day on February 29. Phase one is fully occupied and it’s rare a home comes up for sale.
“Existing residents who rent now want to buy in phase two and those who own are looking to encourage other members of their family to buy in phase two, or want to trade up.
“The homes in phase one have increased in value.”
Phase three will contain accommodation for more than 350 students, while the fourth element will involve the creation of a landmark gallery for S1 Artspace. Phase five, at the top end of South Street, is to be brought forward last.