The Greater Manchester Combined Authority (GMCA) has delivered an investment of over £1.6m to deliver new homes on brownfield land.
In collaboration with social impact developer Capital&Centric, the GMCA’s £1,605,000 funding boost will support the delivery of housing in Manchester City Centre, on a site previously owned by Transport for Greater Manchester.
The Ferrous development project in Piccadilly East will provide 107 rental homes, as well as a new pocket park and a kiosk to support an independent food or drink operator.
It has also been confirmed by Capital&Centric that roughly 15% of the new developments will be affordable housing, valued at a discounted price compared to market rent.
According to Capital&Centric, construction is estimated to begin later in the year, with a view to complete the project in 2028.
Tom Wilmot, Joint Managing Director at Capital&Centric, said: ‘The GMCA funding is helping unlock new homes on a challenging city centre site while allowing us to deliver affordable homes as part of the scheme.
‘We’ve also carved out space for greenery and an independent operator because small pockets of public space make a massive difference. In a post-industrial city you have to go big on planting.’
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