A long-awaited development in central Reading including more than 500 homes is set to be approved this week.

Station Hill developer Lincoln MGT has submitted applications for two 12-storey buildings with a total of 538 build to rent homes.

Both applications will be considered together, alongside applications to vary approved planning conditions.

Demolition is underway at the 2.56 hectare site, which is between the railway station and Friar Street.

Richard Bennett, chairman of the Reading Civic Society (RCS), said: “We are generally supportive. There are minor concerns about the look of it with Friar Street.

“The next phases are going to be more challenging because they are going to be a lot taller but it is the area for tall buildings.

“We welcome the progress in getting on with it.”

The first application is for 370 homes with 1,151sqm of retail floor space, while the second seeks 168 homes with1,046sqm retail and leisure floorspace.

Lincoln MGT intends to provide 20 per cent affordable housing, with five per cent on-site and 15 per cent off-site.

The Berkshire West Clinical Commissioning Group has asked the council to consider how health providers can be supported to deliver health care for the hundreds of potential new residents.

The applications are the first phase of a huge project which could see more than 1,000 homes built.

Developers have been attempting to build on the derelict site since 2006, when John Madejski’s plans were rejected by the government.

Lincoln MGT expects the 538 build-to-rent homes to be completed by the end of 2022,

RBC has estimated this development could raise £14.5 million in Community Infrastructure Levy funding.

It would then be followed up with another two phases, which include plans to take the number of homes to more than 1,000.

The application is one of 11 that Reading Borough Council’s (RBC) Planning Applications committee will hear next Wednesday in a bumper last session before the summer break.