Manchester City Council has partnered with the Greater Manchester Pension Fund to boost homebuilding
The Manchester housing partnership plans to deliver 1,600 homes in the coming years as part of the second phase of development by This City, the housing company for the City Council.
The selection of the partner was a competitive process, and the Council executive is now being asked to approve the joint venture at the meeting on 4 June.
There are several major projects set to take place in Manchester, including the Nobu tower.
Phase 1 is nearly complete
No. 1 Ancoats Green is This City’s first flagship project, which is nearing completion with 129 low carbon homes with green spaces and a park at Ancoats Green.
30% of the homes at Ancoats Green are available under Manchester Living Rent, making them more affordable as they are capped at the rent level covered by housing benefit.
Phase 2, which will be delivered under the funding from the Manchester housing partnership, will consist of 1,583 council-owned homes built on brownfield sites throughout the city. 20% of these will be affordable rent homes, with an emphasis on sustainability in low-carbon homes and community.
The sites in phase 2 will include:
- Postal Street, Piccadilly: 126 new homes
- Hyde Road, Longsight: 85 homes
- Monsall, Harpurhey: 750 homes
- Grey Mare Lane, Ancoats and Beswick: 136 homes
- Downing Street, Ardwick: 166 homes
- Heyrod Street, Piccadilly: 256 homes
- Kirkmanshulme Lane, Longsight: 64 homes
Engagement has begun with Monsall and Longsight to ensure local people are involved with the projects, and formal consultation will begin later this year with people in Grey Mare Lane.
“We are proud to continue our longstanding partnership with Manchester City Council investing in the “This City” vehicle”
Council leader Cllr Bev Craig said: “This City is about accelerating home building on Council-owned land so that we can build the homes that Manchester needs on our own terms. These homes will contribute to our housing strategy target to deliver at least 36,000 new homes up to 2032 – and at least 10,000 of these homes will be social, Council or genuinely affordable.
“These are ambitious numbers and we are on track to meet them. For example, last year we built more council and social homes than any year for more than a decade, but we want to go even further.
“We plan to build new council and social housing in every part of the city and being creative, using our land and building the homes ourselves, we will do just that. And having the Greater Manchester Pension Fund on board gives us the financial boost to go further and build much needed low cost, low carbon homes for Manchester residents.”
Cllr Gavin White, executive member for Housing and Development, said: “Having Greater Manchester Pension Fund on board with This City as an institutional investor will help us deliver at scale the new housing, including significant amounts of affordable housing, which Manchester needs.
“We’re seeing a step change and acceleration in the delivery of affordable housing, with more being built now than at any point in the last 12 years and with even more in the pipeline.”
Cllr Eleanor Wills, chair of GMPF, said: “We are acutely aware of the severe housing crisis both nationally and in the North-West region. This is why we are proud to continue our longstanding partnership with Manchester City Council investing in the “This City” vehicle that supports the Government’s plan to provide much-needed affordable homes for hardworking families while ensuring strong, low-risk returns to secure the pensions of our members.”
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