GMCA pumps £314m into transport schemes as Good Growth Fund grows to £2bn
Almost £90m for the Carrington Relief Road, £70m for a potentially Ryder Cup-clinching highway, and £60m for a new Metrolink station in North Manchester are among the projects given a significant equity boost.
GMCA handed out £400m to various residential and commercial projects in a first wave of allocations last November and has gone big on transport investment in the second round, as the fund looks set to double in size to £2bn thanks in part to a £500m investment by the National Wealth Fund and another £175m from government.
Oliver Holbourn, chief executive of the National Wealth Fund, said: “The National Wealth Fund’s ambition to provide significant investment across the city region will help create skilled jobs and opportunities and contribute to long-term, sustainable growth for Greater Manchester and its communities and businesses.
“This announcement is a reflection of our confidence in Greater Manchester’s capacity for innovation and growth, and a testament to the close partnership we have established with the combined authority.”
In total, GMCA has earmarked £485m from the fund for wave two projects of which £315m is allocated to transport schemes.
As well as £70m for the Hulton Park link road – which could be the difference between Bolton being awarded the Ryder Cup or not – GMCA will provide £60m for a new Metrolink stop at Sandhills as part of the Victoria North masterplan, and £52.1m for infrastructure to unlock the Northern Gateway employment zone across Rochdale and Bury.
Some £90m will go towards creating a link road as part of the New Carrington masterplan, earmarked for 5,000 homes and 3.5m sq ft of employment space, while £25.7m will go towards creating the Wigan-Hindley link road, a new 4km connection extending the A49 Link Road over the West Coast Main Line to pave the way for 2,000 homes.
Tameside Council will get £17.4m enabling works and supporting infrastructure to unlock the 2,150-home Godley Green Garden Village.
Away from transport, another six projects are set to receive a share of £170m from the Good Growth Fund.
These include £70m for Oldham’s SportsTown initiative, £35m for 248 homes as part of the regeneration of Prestwich Village, and £26m for 423 social rent, extra-care and affordable homes in Wythenshawe, along with £24m for 249 homes in Stretford town centre. The Sustainable Materials and Manufacturing Centre in Atom Valley will get £15m, marking the fund’s first investment in an innovation asset.
Greater Manchester Mayor Andy Burnham said: “We’re serious about making sure every part of Greater Manchester benefits from our approach to good growth.
“By almost doubling our Good Growth Fund, thanks to a landmark partnership with the National Wealth Fund and new investment from government, we can invest in bringing even more homes, jobs and opportunities to our communities.”
How on earth does it cost £60m for a new tram stop – 2 raised platforms, a shelter in between and some new track off the main line. No wonder infrastructure moves at a snail’s pace with costs like this.
By Anonymous
After a decade in charge Mr Burnham has woken up to the fact that there’s life outside of Manchester and Salford. Better late than never I suppose.
By Anonymous
Isn’t this government replicating in GM,what previous governments have done for London? Giving the lion’s share of investment to a new Golden Goose? I also agree with the comment about the new Metrolink station costing 60 million. Is that a joke? What is costing 60 million pounds? Are the platforms studded in diamonds, and the shelters carved from Burmese teak?
By Elephant
£60 million for a tram stop!?! Crikey!!!
By Anonymous
The £60 million cost of the new Collyhurst/Sandhills Metrolink stop is a bit puzzling, as the civil engineering needed doesn’t seem to be that great. Obviously any work next to a working line has extra costs and probably a lot of overnight work, but the space for it is purposely already there with decent access, and the recent and improved stops seem mostly to be prefabricated. Agree with Anon 1 that costs like this do seem to be a brake on similar infrastructure.
By Anonymous
£60m for a stop on an existing line, is either a typo, a massive over administration/engineering, or a mafia slice. I hope it’s the former.
By Anonymous
The schemes allocated funding are access/link roads to new developments along with funding some new bus routes, cycle and walking paths. The £60m for Sandhills Metrolink stop likely includes additional non-tram road infrastructure.
By WatcherZero
Carrington relief road is the biggest waste of money going. Absolutely no need for it. This is pure insanity.
By Mr Mcr
Didn’t I read recently that the High Court had found Peel needed to pay Carrington Relief Road themselves? I guess it’s nice to have a golden parachute then.
Not to be conspiratorial but shouldn’t we be asking why a combined £160m in road schemes benefits the same developer? Surely these costs need to be baked into the project from the outset – if its not viable developers should not be relying on the public sector.
By Almoravid
> “How on earth does it cost £60m for a new tram stop”
Don’t forget the new road to it, the new car park, the new buildings, the electricity, water, communications, new lighting, purchase of all required land. Also don’t forget that area is either underground or raised over the valley. But I’m sure they’d value your expertise in the area of railway construction.
By Flixton resident
I’m guessing we’ll find the £60M is a package that includes roads, active travel, accessibility, landscaping etc etc, and if you look at any of the work on TRU every single station is getting a fully joined up package of change, and then you understand why it’s costing £11BN. If it wasn’t gold-plated and came in at £7BN, could you have electrified the Calder Valley Line as well?
By Rich X
Hopefully this doesn’t remove the requirement for Peel and others to make their Section 106 contributions and that when they do, this growth funding will be replenished ?
By Anonymous
Flixton Resident, all that still shouldn’t add up to £60m.
It’s in North Manchester, it’s not on Mars.
By Anonymous
This is great news the poor old lane built for moving livestock cannot sustain the traffic demand on it
By Friend of Carrington lane