A special purpose vehicle owned by Rowlinson is to get £5.6m of funding from the Greater Manchester Housing Investment Loans Fund to progress a 92-home scheme in Moss Side.
The package was signed off at a Greater Manchester Combined Authority meeting today.
The funding will help support the construction of 92 apartments as part of a wider redevelopment of the former Stagecoach depot on Princess Road.
Plans for the scheme, which includes 54 family homes for market sale, 40 apartments in a single five-storey block, and 72 affordable extra care flats in a six storey block, were approved in December last year. Designed by Buttress Architects, it also includes a four-storey health centre.
The site has been vacant since Stagecoach relocated to new premises in Sharston in 2011.
Rowlinson was chosen as developer for the project by Manchester Place, a partnership between Manchester City Council and the HCA.
Dave Chilton, director of development at Rowlinson Construction, was formerly head of area for Greater Manchester at the HCA. He took up his role at Rowlinson in September 2014.
Rowlinson’s loan of £5.6m will bring the total value of loans approved by the fund to date, to £401.2m.
Rowlinson also secured a £10m loan from the fund in 2015 to build 80 one-bed, 63 two-bed and 21 three-bed apartments over two blocks of 11 and 10 storeys at Pomona Wharf. This development is now largely complete.