Manchester Place is looking for a long-term private sector investment partner to help deliver a significant residential-led regeneration package across the city’s “Northern Gateway”.
Manchester Place is a unique collaboration between Manchester City Council and the Homes and Communities Agency (HCA) to drive forward new home building needed to support the city’s economic and population growth ambitions.
The Northern Gateway – the area extending in a north eastern arc from Victoria Station – includes the neighbourhoods of NOMA (home of the Cooperative’s HQ), the Lower Irk Valley, New Cross and Collyhurst, covering an area of approximately 150 hectares.
It is estimated that the neighbourhoods could support up to 7,000 new homes in the next 10 to 15 year period.
The Northern Gateway’s history of de-industrialisation – followed by disappearing economic uses – means the land is substantially under-utilised. The vision set out in the master plans for the neighbourhoods is to create a series of distinctive and interconnected communities, that are supported by high quality facilities and green spaces with excellent walking, cycling and public transport link to the city centre nearby.
The scale of the development area would require a long-term private investor that can innovate and deliver different residential products, with sufficient financial capacity to invest heavily up-front and take a longer term view on financial return.
The first phase of the Northern Gateway project will focus on the site identified around Angel Meadow (NOMA), working closely with the Co-operative Group in the coming months to find a developer and investment partner.
The Lower Irk Valley, New Cross and Collyhurst will follow in a later phase of delivery – with recognition that these areas are already receiving early stage remodelling and the ambition is to tailor planned development for these areas with little delay.
Manchester Place will use its powers, resources and skills to ensure that conditions are created to enable the public and the private sector together to deliver over the next ten to fifteen years new popular places to live close to the city centre.
Cllr Bernard Priest, Deputy Leader of Manchester City Council, said: “The Northern Gateway provides the means to expand the City Centre northwards, connecting the neighbourhoods of New Cross, Lower Irk Valley and Collyhurst to the core of the city to deliver a diverse range of new homes that will meet the needs of a growing population.”
“Manchester is growing quickly and we need to plan now to make sure we have the homes and neighbourhoods that Manchester’s growing workforce can live and if they choose to, raise a family.”
Deborah McLaughlin, Chief Executive of Manchester Place, said: “The Northern Gateway represents a huge opportunity to work with investors and developers to create unique and attractive neighbourhoodswith exceptional facilities, close to city centre employment opportunities.”
Developers interested in finding out more should contact Ian Slater (Manchester City Council): 0161 234 5515