Chapel Street gets HIF money for next phase of masterplan
Homes England has granted £1.2m from its Housing Infrastructure Fund to back the development of 178 homes at English Cities Fund’s Chapel Street.
The scheme being funded is on plots E7 and E8 within the Salford Central masterplan. Recently named Atelier, the project will be made up of four seven-storey blocks totalling 167 apartments, a row of 11 townhouses, and eight commercial units. The architect for the project is Buttress.
The site sits between North Star Drive and Chapel Street, between the Vimto Gardens development and the Ainscow Hotel.
The money is being granted from HIF’s marginal viability fund, to Salford City Council. Homes England is a joint venture partner in English Cities Fund, alongside Muse and Legal & General. The JV has been on site building out around New Bailey and Chapel Street in Salford for a number of years.
In order to draw down the money, a grant funding agreement will be entered into between the council and Homes England, and the council will then onward fund the cash to English Cities Fund.
According to a report to Salford City Council, plots E7/E8 require remediation, services diversions and public realm works in order to be brought forward.
In addition to the £1.2m from Homes England, the project will receive £6.4m in cross-subsidy from Salford City Council, a deal confirmed in June.