Over one thousand new homes are to be delivered by Manchester City Council through its collaboration with a pension fund.
A decision made by the council’s executive on Friday will determine whether the council’s arrangements with the Greater Manchester Pension Fund (GMPF) are approved.
The partnership with the GMPF will see roughly 1,600 new low carbon homes built on brownfield sites, 20% of which are to be capped at the Manchester Living Rent.
According to the council, the scheme will be carried out as part of the strategy of the home building company, This City, which aims to boost the number of houses developed on council-owned brownfield land. If approved, the venture will be delivered over at least the next decade, with a possibility to extend based on mutual agreement.
It supports the council’s goals of providing a minimum of 36,000 homes by 2032, including a target of ‘10,000 genuinely affordable, council and social homes’, with a specific focus on north and east Manchester in terms of site selection.
Following the completion of construction works at the No.1 Ancoats Green site last year, the additional six locations across the city that have been confirmed for development are Postal Street, Monsall, Kirkmanshulme Lane, Hyde Road, Grey Mare Lane, and Downing Street.
The council has said the plan will enhance local economic growth, as well as increasing green employment opportunities and supporting the sustainability of neighbourhoods.
Engagement with the community has also been carried out to ensure local feedback informs proposals and design work for the Monsall and Hyde sites. Cllr Bev Craig, Leader of Manchester City Council, said: ‘Our housing strategy is both about building the homes our city needs, but also intervening to make our city affordable to everyone.’
She added: ‘Completing No.1 Ancoats Green last year was a great start – but this collaboration with the Greater Manchester Pension Fund provides long-term assurance that we can bring forward and deliver even more ambitious schemes.’
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