Far East Consortium International has been confirmed as the delivery partner for Manchester’s problematic Northern Gateway housing project.
Over the course of a decade, the £1bn scheme is expected to unlock over 300 acres of development land, bringing up to 10,000 new houses to a sweep of sites north of Victoria station, taking in New Cross, the Lower Irk Valley and Collyhurst.
Rumours of FEC’s imminent appointment had been floated earlier this month. The Hong Kong firm is expected to act as a lead developer, bringing in other partners to deliver schemes in certain areas.
Sir Richard Leese, leader of Manchester City Council, said: “This is arguably the biggest residential opportunity for transformational change in the city that we have yet seen. This investment partnership will allow the city core to expand and provide the right mix of high quality housing in well-planned new areas to support our continued strong economic growth.”
Chris Hoong, managing director of FEC, added: “Our Manchester team on the ground will work with local advisers and contractors to deliver a fully supported Northern Gateway, helping bring about a new international experience for this marvellous city.”
The bidding and evaluation process took place over eight months. FEC is already working on the 754-home Angel Meadow Park scheme in the city, with plans due to be submitted soon.