Blade And Cylinder 2

Blade (left) is one of two Renaker towers approved in July

GMCA to pump £62m into Renaker skyscraper

Three60 will provide 441 apartments across 51-storeys in Manchester. The loan would take the combined authority’s financial contributions to the developer’s schemes beyond £100m. 

GJS (Circle) Developments, a Renaker SPV, is seeking a loan of £62.3m from GM Housing Investment Loans Fund for the Manchester project. 

If approved this Friday, the loan would take the amount the GMCA has given to Renaker through the fund beyond the cap of £100m. As a result, £20m of the loan could be provided through GMCA’s Growing Places Fund, should the cap be reached, according to a GMCA report. 

Last December, the combined authority agreed loans of £37.5m and £32.4m from the fund to support the development of almost 1,000 apartments across two Renaker schemes, Colliers Yard in Salford and Blade, located next to Three60. 

In addition, Kellen Homes is seeking a £4m loan from the GM Housing Investment Loans Fund for a 99-home scheme in Oldham. 

Housebuilder Kellen, set up by Renaker founder Daren Whittaker in 2020, would use the cash to deliver 50 houses for open-market sale and unlock the wider development of a further 49 houses for affordable rent and shared ownership.

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Wow no S106 and supported with loans

By TJL

I take it this is the skyscraper formerly known as cylinder? . At least along with the Blade it has a completely different profile to most of the others. Get the quality right and this will look quite spectacular when seen in the context of all of the other builds in the area.

By Anonymous

whilst I am thrilled to see more homes being developed in the area I am very surprised that all the eggs are in one basket, both in terms of the location, the type of homes and funding coming from one source to only one developer, this could have a significant impact on many things should we continue to see the cost of developing increase and do 800 plus people want to live in a high rise ??

By carole neales

What an architectural shambles Manchester has become.

By Ted

Why isnt this money used to fund social housing? Plus wonder what amount if any will be paid back to GMCA

By Alan in Bury

Publicly funded loans for high rise skyscrapers? Market crash on the horizon then. Feels like silly season again as it was in 06/07 genuine inflation into the mix you have a nasty problem.

By Anon

Ted, can’t stay stuck in the past, other cities are trying that and it really doesn’t work. In the right place ( and these are in the right place) it works very well.

By Anonymous

Where is the schools medical centres and hospitals going in this plan, we need more infrastructure for the health and well-being of more people to come into Greater Manchester. You will be increasing pollution levels, roads are already congested with the way GM has altered the way people access everyday travel

By Sue

Sue, there is a primary school and a medical centre in this very development. St Mary’s Hospital is also a stone’s throw away.

By Dave

Sue, please explain how it is creating more pollution by building more homes in the city centre? More people living in the centre equates to more people walking or cycling to the many offices in the area and less cars off the road.

By New Wave

I like 360, and the blade, both something different.when you see the cgi up closer.

By Anonymous

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