A loan of £24.5m for Manchester Life’s 213-home Lampwick development has been backed by the Greater Manchester Combined Authority, as part of the latest round of Greater Manchester Housing Investment Loans Fund approvals.
The GMCA has agreed to support Manchester Life’s private-rented development in New Islington, which has been designed by architects CallisonRTKL. It includes three blocks ranging between five and 10 storeys in height, and will also include 3,200 sq ft of retail space on ground floor level.
Plans for the project were submitted in May this year and approved in July.
It is the third project by Manchester Life, which is a joint venture between Manchester City FC owners Abu Dhabi United Group and Manchester City Council, to secure a loan from the Greater Manchester Housing Loan Fund this year.
Loans for Vesta, a Rafael Vinoly-designed housing project on the Ashton Canal, and New Little Mill, a grade two-listed building in Ancoats, were approved earlier this year.
Other projects to be backed by the Housing Loan Fund include a 24-home development by Mulbury in Weaste, which has been given a loan of £1.7m. Mulbury Homes has planning permission to build the affordable houses on a brownfield site at Willows Road.
Developer Breckside Estates has secured a £4.5m loan to build 44 detached and semi-detached homes at the former Clarkesville Farm site in Crumpsall. The privately-owned development already has planning permission.
Hurstfield Developments has secured a £1.4m loan for eight homes on a brownfield site on Hurstfield Road in Worsley, while a £1.1m loan has been agreed for Square One Homes to build 10 apartments on a privately-owned brownfield site on Bridgwater Road in Altrincham. Both projects already have planning permission.
The loans, totalling £35.6m, were agreed at a GMCA meeting on 27 October.