Bury seeks funding to unlock Pyramid Park
The council is seeking cabinet approval to bid for around £1.5m of brownfield land funding to prepare the site for redevelopment into homes.
Pyramid Park, a 7.4-acre site close to Bury Interchange, forms part of the council’s plans to transform brownfield sites in its ownership into housing.
It is hoped the redevelopment of Pyramid Park will help meet “high levels of need for housing” in the town centre, according to a cabinet report.
The brownfield funding would “de-risk the site for potential investors and maximise the land value at the point of disposal”, the report states.
Pyramid Park was earmarked for around 400 homes in Bury Council’s town centre masterplan, however, it is understood the number of homes is likely to be revised downwards.
The cabinet report adds that the scheme would provide an “aspirational apartment and housing scheme, affordable homes aimed at younger adults, adults looking to settle in Bury, and older people.”
It is estimated around 25% of the properties would be affordable.
Should the funding bid to unlock brownfields be successful, a further report setting out the proposed disposal method and planning strategy will be put to cabinet.
In January, Bury Council began the process of disposing of the one-acre Town Fields plot, located immediately east of Pyramid Park.
This site is to be sold to a registered provider for around 35 affordable homes for people over 65.
Work on this project, the first phase of the wider Pyramid Park development, could begin next year subject to planning approval.