Manchester City Council's latest attempt to kick-start a major housing development along the Lower Irk Valley behind Angel Square at the edge of the city centre goes to cabinet on Wednesday.
The 15-year masterplan details a £40m programme involving several development opportunities for private developers.
The north Manchester suburb was one of the last private finance initiative schemes to be withdrawn by government in 2006.
The first phase of the masterplan will include completing refurbishments as part of the Decent Homes Programme in partnership with Northwards Housing, an arm's length housing organisation working for the council.
There will be new roads to open up the area and environmental improvements ahead of bringing plans to market for residential development.
There will be a focus on attracting new residents and full-market properties to balance with the social housing that dominates the area.
Phase one will include demolition of older properties to allow new sites for housing developments.
The estate's current poor layout means many residents are closed off from surrounding areas and three new roads will be constructed to improve accessibility and connectivity in the neighbourhood.
Since the failed PFI bid in 2010, Northwards Housing has brought 928 homes across Collyhurst up to the decent homes standard using £22m from the government's Decent Homes Backlog Fund. The four towers in the area are also currently getting a makeover which will be completed in December.
In early 2012 the council launched a development contest to find a partner for 3,000 homes – 2,000 new and 1,000 refurbished. John Laing was originally selected as preferred development partner but talks with the council later ceased.
Under the current programme, 13 rundown blocks of maisonettes are being demolished. The Collyhurst masterplan identifies the site of these maisonettes for new housing as well as the site of a community centre, shops and health facilities.
Northwards Housing has been granted £6m from the government to improve walls and boundaries on almost 860 homes in Collyhurst. This work will be completed in three phases over 18 months.
Phase two of the masterplan will see significant further new build homes for sale and market rent together with further demolitions of older properties and work to bring forward future development opportunities.
The masterplan is part of Manchester Place, a joint initiative between Manchester City Council and the Homes & Communities Agency that looks to create a pipeline of development-ready sites to help the city meet its ambitious target of creating 55,000 new homes by 2027 as set out in the Manchester Residential Growth Prospectus.
Manchester Place will work with investors, such as Manchester Life, a £1bn, partnership between Manchester City Football Club and Abu Dhabi United Group, the privately owned investment company which also owns Manchester City Football Club, to bring 6,000 new homes to east Manchester over the next 10 years.