Contractor JRL Group has teamed up with Lloyds-backed Housing Growth Partnership in a £145m joint venture to deliver Luton’s first major build-to-rent development.

The Castle Street project will see three towers of 20, 18 and 14 storeys rise above a podium to provide 402 private rental flats and 12 discounted market rent homes.

On-site amenities will include a rooftop lounge, co-working space, gym, landscaped roof terraces and shared gardens.

HGP is putting in £28m of equity alongside JRL’s funding to drive the scheme forward, with JRL acting as both developer and contractor.

Construction is starting with practical completion targeted for December 2027.