Trafford Housing Trust is partnering with developer Far East Consortium on the waterfront development, which is part of Manchester’s Victoria North masterplan.
Victoria Riverside is situated alongside the River Irk and within Victoria North’s Red Bank neighbourhood. The scheme will feature three Hawkins\Brown-designed residential towers with a total of 634 apartments. All the 128 homes that are designated affordable will be within the City View tower. Half of those apartments will have one bedroom, while the other half will have two. They will be a mix of affordable and rent-to-buy properties.
Trafford Housing Trust, a subsidiary of L&Q, will market all of the affordable apartments under its Laurus Homes brand.
City View is part of the first phase of Victoria Riverside’s development. It is expected to complete in 2024.
This is the first major project in Manchester for both Trafford Housing Trust and its parent company L&Q.
“This new scheme of 128 homes will be one of the largest developments of affordable homes in Manchester city centre for many years, and we are delighted to be working alongside FEC to deliver them,” said Larry Gold, chief executive of Trafford Housing Trust.
“There is a significant lack of affordable housing throughout the North West, but one of the biggest shortages is in Manchester’s thriving city centre,” he continued. “These new homes will help to address that issue as part of our overarching commitment to tackling the housing crisis.”
City View will not hold the only affordable housing within the Red Bank neighbourhood. There are plans to construct more than 800 designated affordable homes there over the next ten years.
“Victoria Riverside is just the start of FEC’s aspirations in Red Bank and we are hugely excited to be partnering with Trafford Housing Trust and L&Q on this first development,” said FEC project director Hilary Brett-Parr. “As part of Victoria North, it’s important that Victoria Riverside and the wider Red Bank neighbourhood are reflective of our commitment to supporting the city’s needs through a mix of housing.
“Trafford Housing Trust and our Register Provider partners will play a pivotal role in helping us to achieve our ambition of making Red Bank an inclusive and diverse residential neighbourhood that champions green living in the city centre.”
Red Bank is just one of seven neighbourhoods that make up Victoria North, a joint venture between FEC and Manchester City Council.
Avison Young acted for FEC on the deal with Trafford Housing Trust.