HK investor lined up for huge regeneration project

A Hong Kong-based investor has been chosen to help deliver the Northern Gateway, said to be the most ambitious housing-led regeneration project ever undertaken in Manchester, in a move that is expected to generate more than £1bn of investment.Far East Consortium International (FEC) has been selected to work with Manchester City Council on the flagship scheme. Its selection could generate more than £1bn of investment over the next decade and unlock the residential potential of more than 300 acres of land that sweeps north from Victoria station in the city centre, taking in the neighbourhoods of New Cross, the Lower Irk Valley and Collyhurst in north Manchester.The vision is to create a series of distinct yet clearly connected communities making the most of the area’s natural resources including the River Irk and its location close to the city centre. The partnership will deliver up to 10,000 new homes over the next decade with an emphasis on design quality and sustainability, open space, and green walking and cycling routes.FEC is no stranger to the Manchester market, with detailed plans to build 754 homes around the historic Angel Meadow Park expected to be submitted shortly.The announcement of the Northern Gateway partner follows a comprehensive market bidding process and detailed evaluation over the past eight months.Manchester Place, the partnership between the council and the Homes and Communities Agency, identified the Northern Gateway as a key area for residential growth at scale and will continue to provide help and support as the transformational plans develop.