A major investment agreement could unlock up to £500 million for housing construction and regeneration projects across Greater Manchester.
The agreement between Greater Manchester Combined Authority and the National Housing Bank, which operates within Homes England, is intended to accelerate residential developments and mixed-use regeneration schemes.
The arrangement is the first of its kind in England and will support projects aligned with the region’s existing Good Growth Fund.
The investment will focus on addressing development barriers and supporting schemes capable of delivering new housing, improved infrastructure and wider economic benefits.
Greater Manchester has already established a significant pipeline of urban regeneration projects, including developments at Victoria North and within Stockport.
The new funding arrangements are expected to strengthen the region’s ability to bring forward complex development sites that might otherwise struggle to secure suitable finance.
Projects seeking financial support will need to meet the National Housing Bank’s investment criteria, with individual proposals subject to due diligence and approval.
The agreement also places importance on the wider benefits of construction and development, including apprenticeships, employment opportunities and participation by local businesses.
For the construction sector, the initiative represents a potential source of future opportunities across residential building, civil engineering, infrastructure development and associated professional services.
The agreement forms part of a broader effort to use public investment to encourage private-sector participation and accelerate housing delivery across England.
Original source: Homes England and National Housing Bank