Oldham Council and Rochdale Borough Council have been granted £20m each to support a range of regeneration schemes.
Oldham Council said £4.5m would fund projects that would ‘spark local growth’, while £5m would be invested in a town centre housing delivery partnership.
The funding will also go towards developing the town’s cultural quarter, boosting sports education and facilities, and helping market traders relocate.
Rochdale BC, meanwhile, will use the funding to transform an empty site into new homes and a public park and enhance the educational and cultural opportunities in the local area.
Leader of Oldham Council, Cllr Arooj Shah, said the investment was a ‘gamechanger’.
‘It will supercharge the ambitious regeneration plans that we have for the borough in a year that Oldhamers will finally see some of these bold ideas come to life.’
Cllr Neil Emmott, leader of Rochdale BC, added that the local authority was ‘delighted’.
‘Together, good quality new homes, fantastic educational opportunities and increased access to culture are the cornerstone of the high quality of life we are working so hard to deliver for each and every resident of our borough.’
