The team beat off five rivals including Morrison Homes to win the deal, which includes 300 flats and commercial and retail space. The site is next to the £100m Mailbox project, a landmark redevelopment scheme.
It is understood that a shortlist of six was narrowed down to Bellway and Morrison, which was working with architect Temple Cox Nicholls.
The competition was overseen by agent Harris and Lamb, although the land owner of the site, off Washington Street, is unknown. It is thought that a key element of the project will be live-work space, where residents can use communal workspaces including computer stations and office space.
It will also include a broad range of accommodation, from social housing to penthouses. A source close to Bellway said the team wanted to capitalise on the nearby Mailbox development. He said: “We have got to feed off the Mailbox. That means we need some upmarket flats as well as the social aspect.”
The source said there was a degree of flexibility over the make-up of the development. He said: “If you insist on 50% social housing, then the scheme could fall flat on its face. But the city council doesn’t want this to happen.” Bellway has already met planners at Birmingham City Council and a planning application is expected to be lodged later in the summer.
A council spokesman said the Mailbox scheme, due for completion next year, had put that area on the map. He said: “The site used to be pretty marginal. Now with improved links to the city centre it has piggy-backed on the success of developments on Broad Street. The Bellway project seems a high-quality scheme recognising the opportunities that Mailbox has opened up.”
It is thought that other aspects in the scheme will include retail, nursery facilities and office space.