The large-scale redevelopment of the Chapel Street area in Salford, granted consent at the start of this year, has received an early boost with £10.76m funding from the North West Development Agency.
English Cities Fund plans a £650m scheme over the coming years delivering more than 2m sq ft of commercial space and residential and hotels. The area is seen by the NWDA, urban regeneration company Central Salford and the city council as the natural extension to Allied London's Spinningfields commercial district which is rapidly filling up. A revived Chapel Street will also help link Media City to Manchester city centre.
The funding is made up of £8.97m from the NWDA and £1.79m under the European Regional Development Fund, which is managed regionally by the NWDA.
Paul Lakin, director of land and property at the NWDA, said: "The proposals for Chapel Street will create a vibrant new city centre in Salford and I am pleased that this funding means we can begin to turn these plans into reality. This illustrates how our targeted interventions can help to stimulate private investment and support economic recovery.
"The Chapel Street area has huge potential but needs significant public investment to create the type of environment which is essential to attract high levels of private investment.
"It will be a monumental project which will mean more jobs, economic vitality and a better future for both Salford and Manchester."
The NWDA-funded works will be delivered in two phases. The first phase, which will start immediately, will be a package of junction improvements and highway configuration to divert traffic away from Chapel Street. These works will take place at Broad Street/Albion Way; Albion Way/Liverpool Street and Regent Road/Oldfield Road junctions. Once the first phase has completed in autumn, a series of improvements in public spaces will begin on Chapel Street. This second phase includes new street furniture, lighting, signage, tree-planting and widening of footpaths; new public squares at Salford Cathedral and St Phillips Church to provide better connectivity to the historic core of Salford and new pedestrian crossing points.
English Cities Fund is a joint venture between Muse Developments, Legal & General and the Homes & Communities Agency.