Spanning over a period of between 15-20 years, the scheme will create an impressive 15,000 new homes, signifying the first major financial commitment in the area in more than 50 years.
The total worth of the project is around £4bn, with FEC contributing a significant £120m, alongside over £35m of public investment.
This initiative is the largest in Manchester’s history and will serve as a crucial solution to the urgent need for more homes across the city.
A substantial number of the new homes will be social and affordable, making housing more accessible to many; the initial phase of the project, Victoria Riverside, has already begun and is set to unveil 274 new homes, nearly half of which are planned to be council homes.
The local community in Collyhurst, an area located in the North East of the city between Ancoats and Miles Platting, has been working with the council to identify exactly what’s needed to help improve their area – and have been promised quality green spaces and improved walking & cycling routes, with the potential for further education provision and even a Metrolink stop!
Benefiting the wider city community, the regeneration includes the ‘City River Park’: a 46 hectare park which aims to encourage active recreational time, through greenspace and smaller amenity spaces, enhance natural wildlife and improve connectivity and accessibility.
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