Good Growth Fund backs five major projects in North West

Greater Manchester Combined Authority has today announced the first projects to receive support from the new £1 billion Good Growth Fund. The fund aims to unlock regeneration across the city region by supporting new homes, research facilities, commercial space and public infrastructure.

Over several years, we have invested considerable time and resources to grow a strong regional pipeline in the North West. Working in partnership with local authorities, stakeholders, and communities, we have established the foundations for long-term, deliverable visions which reflect the specific needs of each place and are grounded in creating long-lasting positive impact.

The funding we have received is reflective of the ambitious and bold commitment which has been made by us and our partners to unlock sites where people can live, work and thrive because of meaningful strategic placemaking. It allows us to deliver 2100 homes across Greater Manchester in areas where good quality, low energy and affordable housing is much needed.

Three neighbourhoods have been included in the first wave of commitments, underlining the role that long-term partnerships can play in delivering good growth for local communities.

As part of the Oldham town centre regeneration, which is being brought forward by Muse in partnership with Oldham Council, £31.5 million has been committed to the delivery of 331 new homes at Prince’s Gate. The support for the flagship gateway project will help kickstart the wider vision for the 2,000-home new neighbourhood.

In Salford, £23.4 million is due to be committed to the next stage of homes in Crescent Salford’s Adelphi Village. Delivered by the Crescent Partnership, comprising Salford City Council, the University of Salford and ECF – our joint venture partnership with Homes England and L&G, the proposals include 301 homes for social and affordable rent and 42 townhouses, alongside the 336 apartments already being delivered across two buildings.

Over time, the wider £2.5 billion, 240-acre Crescent Salford masterplan will deliver more than 3,000 homes, new public spaces, improved connections and modern research and education facilities.

Stockport 8, which is being delivered by ECF with the Stockport Mayoral Development Corporation has also received £41.3 million to help unlock the walkable town centre neighbourhood.

Phase One will provide 435 homes, including 82 affordable homes, together with a new public square beside the viaduct and landscaped routes that link the site into the wider town centre.

It sits at the heart of the MDC’s long-term vision for a sustainable and liveable town centre. The neighbourhood will create new spaces for local businesses, inclusive public areas and safe routes that promote walking, cycling and easy access to public transport.

This includes support for 423 new homes for social rent, with 109 for supported living, as part of the £500m regeneration of Wythenshawe town centre which is being brought forward by Muse in partnership with Manchester City Council.

Meanwhile, the £100 million sustainable transformation of Prestwich Village which is being forged by Muse with Bury Council will gain further momentum with backing for the delivery of 235 new homes as part the masterplan.

Phil Marsden, Managing Director at Muse – North West, said:

“The funding will support us move at pace in Salford, Stockport, and Oldham. At Adelphi Village, it strengthens a shared aim with partners to deliver high-quality homes as part of Crescent Salford. Over at Stockport, it helps unlock the first phase of Stockport 8, a neighbourhood shaped around people, with new homes, public spaces and opportunities that support inclusive growth. In Oldham, it helps unlock a key gateway to the delivery of the transformative 2,000-home Oldham town centre masterplan.

“Meanwhile, the commitment to Wythenshawe and Prestwich Village will bring added momentum to these transformative visions for the future.”

The Good Growth Fund will continue to support projects across Greater Manchester as further assessments are made. Muse will keep working with local partners to ensure this early investment helps progress the next stages of regeneration across the area.