Manchester Place partnership to boost residential development in city
Published by Brian Church for 24housing in Housing and also in Local Government
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A new partnership called Manchester Place aims to provide a major stimulus to residential development in the city. The strengthened alliance between Manchester City Council and the Homes and Communities Agency (HCA) was announced Wednesday.
The council said Manchester Place will create a pipeline of development-ready sites to help the city meet its target of creating 55,000 new homes by 2027 as set out in the Manchester Residential Growth Prospectus.
Phase one of the multi-phased Manchester Life initiative will see the provision for more than 830 homes in Ancoats and New Islington, building on the regeneration activity over the last 15 years to complete their redevelopment. Construction work is expected to begin next year.
The activities of Manchester Place will be overseen by a project board, chaired jointly by the MCC chief executive and the regional director of the HCA. Councillor Jeff Smith, executive member for housing and regeneration, said: "This is a significant partnership which should have a huge positive impact on Manchester’s housing market."
Manchester Place will work with investors – such as Manchester Life - developers and others "who wish to support high quality housing across the city to ensure there are sufficient opportunities". Where justified, this could include providing access to public resources.
Manchester Life is a £1 billion investment partnership between Manchester City FC and Abu Dhabi United Group, the privately owned investment company which also owns the club, continuing the transformation of east Manchester to bring 6,000 new homes to the city over the next 10 years.
Forecasts suggest that the city has the potential to generate an extra 50,000 jobs by 2023 and that by 2030 the population will exceed 600,000. Ensuring the right number of homes in high quality neighbourhoods is a key challenge.
Key tasks for Manchester Place include working with landowners to get sites ready for development, assembling land where necessary, and using the land resources and market intelligence of both the Council and HCA to produce a co-ordinated response to government initiatives encouraging house-building. Receipts from land sales will be recycled for housing and associated developments supporting growth.
Smith said: "Manchester Place will secure an integrated approach by Manchester and the HCA to stimulating faster and wider interest in the city’s housing market. We welcome conversations with other investors, both international and UK-based, about the many opportunities in the city and will engage with landowners and developers to create a development pipeline for all investors and developers willing to support our residential growth strategy."
Deborah McLaughlin, north west executive director at the HCA, said: "Manchester Place captures the strong working relationship that has developed between the city council and the Homes and Community Agency, and is a great demonstration of how we can jointly use pioneering investment models to stimulate growth. By working closely in collaboration, we are ensuring that we support local strategic priorities – Manchester’s population is growing enormously quickly, and this partnership will accelerate the supply of much-needed housing in the city."