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New partnership to boost homebuilding in Manchester

 A plan to boost housebuilding in Manchester and make new homes more affordable has been agreed this week which will generate new employment opportunities in the trades.

Manchester City Council has signed an agreement with the Greater Manchester Pension Fund (GMPF) and the Homes and Communities Agency (HCA) to bring together a completely new way of funding homebuilding in the city.

The scheme is set to build more than 240 new affordable homes and create thousands of jobs in the construction industry.

Land for the development will be provided by the city council, including one site offered by the HCA, while the Greater Manchester Pension Fund will finance the building of the homes.

The partnership will choose a contractor to build the homes whilst the city council supports the buyer, by taking an equity share in the property, making the new homes more affordable and mortgage costs lower.

Cllr Jim Battle, Deputy Leader of Manchester City Council, said: “Manchester’s growing population and forecasted economic growth will mean we will continue to need more homes in the near future.

“The economic climate has severely slowed home building in recent years and levels of development are not keeping up with the city’s demand.

“This new innovative model tackles these issues, pushing forward development opportunities while ensuring a supply of new attractive homes are available to residents at affordable prices.”

Deborah McLaughlin, North West Executive Director at the HCA, said: “At the HCA our focus is to employ new and innovative ways of working to use public land assets to more quickly deliver homes and economic growth. This new concept marks a major milestone for house building in Manchester and has the potential to attract major investment to the city.”

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Great News for the Trades as Regeneration Scheme in Manchester Gets the Green Light

The Government has given the green light to a massive regeneration scheme that will build new homes and carry out extensive refurbishments to more than 650 council houses in Brunswick,  an area of the inner city of Manchester.  

The 25-year regeneration project will see significant investment to the area, paving the way for new jobs in the building construction sector and trade professionals.

The Homes and Community Agency (HCA), which approved the regeneration plan, said it will include building an improved neighbourhood design with new road layouts and safe open space. The project will also build a new retail area including new shops and amenities coupled with a 60-bed accommodation facility.

Deputy Leader of Manchester City Council, Cllr Jim Battle, welcomed the announcement for Brunswick saying that residents have long waited for such good news that will transform their area and deliver new homes.

Mr Battle said: “We have a fantastic community here that will no doubt continue to prosper as the regeneration plans come to fruition. Being so close to the city centre, coupled with the promise of new homes and an improved neighbourhood layout, I can see a bright future for Brunswick.”

The Government’s approval for the project means the Council can now consider a variety of bidders who will be responsible for delivering the regeneration plan. The Council said it will evaluate final bids from both Fern and Solutions 4 Brunswick, before selecting the preferred bidder later this year.

 

What’s your reaction to the approval of the long awaited regeneration plans in Brunswick? How the Government’s decision to refurbish and build new homes will benefit you/ your business?