Devonshire Gardens has been designed by Buckley Gray Yeoman as a new neighbourhood in central Cambridge.
The scheme is being brought forward by developer Socius and Railpen, the investment manager for the railways pension schemes.
If built, it will transform a three-acre site previously used as a Travis Perkins depot into a new neighbourhood comprising 120,000 sq ft of workspace and 70 build-to-rent flats set around a public park.
The workspace will be delivered across two new buildings designed with flexible floorplates and adaptable spaces for collaboration. The new homes will be powered by electricity from renewable sources with no reliance on fossil fuels, the developers said.
Socius managing director Barry Jessup said: “We are excited to have the opportunity to deliver Devonshire Gardens, which sets a new benchmark for delivering highly sustainable places with workspace, new homes and community amenities.
“We have partnered with a long-term investor in Railpen who share our vision for a future-focused neighbourhood that will contribute to enhancing Cambridge’s status as a hub for world-class innovation and talent.”
Cambridgeshire Chamber of Commerce is a fan of the plan. Chief executive Vic Annells said: “Devonshire Gardens will transform an underutilised site in the centre of Cambridge, delivering much-needed modern workspace for corporates and growing businesses, as well as affordable homes that will help attract and retain talent in the city.”