GM Housing Fund makes £1m investment
A fund to boost housing in Greater Manchester has agreed a loan of almost £1m to enable 23 three-bed homes to be built in Crumpsall.
In its Friday meeting, the Greater Manchester Combined Authority approved loan funding of £957,654 to Wiggett Homes to deliver the scheme at Charminster Drive.
It takes the total value of loan offers from the £300m Greater Manchester Housing Fund approved by GMCA so far to £66.3m over seven schemes.
Planning approval for the Charminster Drive scheme was granted in January for the scheme on a site close to North Manchester General Hospital.
The Greater Manchester Housing Fund was created as part of the region’s devolution agenda and is a “cornerstone of the ambition to create a new wave of high quality homes”.
Loan funding is fully recoverable and it is estimated that the money could be used 2.5 times over the fund’s life, delivering a total residential development value of £1.5bn.