Trafford Housing Trust and Trafford Council have embarked on a 10-year development programme to deliver new housing in Old Trafford.
The masterplan is split into nine pockets of development: Tamworth, Ayres Road Gateway, Hullard Neighbourhood, the Rivers, the Cliftons, Shrewsbury Street, Stretford Road, Fahey's Depot and St George's Gate.
Cruden Construction is developing the first phase, which will see 62 new homes built at Essex Way. The scheme will provide 29 houses and 33 two-bedroom flats built for affordable rent. In Essex Way, Trafford Council provided the land and the trust financed the scheme with support from the Homes & Communities Agency.
By 2014 the Masterplan will have built around 100 new homes. Outline planning permission has also been granted for further new homes on the Tamworth estate, where the Trust will soon be demolishing four tower blocks and is regenerating a further three tower blocks.
Matthew Gardiner, chief executive of Trafford Housing Trust, said: "The Old Trafford Masterplan will breathe new life into an area that in the past has experienced under investment. After years of planning, we are delighted to be working with the council to bring our joint vision to full fruition.
"Not only will the regeneration of Old Trafford create a modern urban community, with new homes and an improved environment, it will also link neighbourhoods and community cohesion – something local people have told us they are keen to see.
"Now we are underway with a project that will bring positive change for the area. The stone laying will signify the start of this exciting 10-year project."