Major investment set to create more than 1,000 homes

Greater Manchester’s leaders are being asked to give the go-ahead to an investment into more than 1,000 new homes across Bury, Manchester, Salford and Stockport.The latest series of investment loans would bring the total invested by the Greater Manchester Housing Fund to date to £305m, £5m more than the fund’s initial value. This is only possible because loans previously made by the fund are repaid, with interest, and then reinvested into new products.Subject to approval by Greater Manchester Combined Authority leaders on Friday, 31 March 2017, the Greater Manchester Housing Fund will provide:£1.5m to Wiggett Homes for 22 houses in Brooke Street, Radcliffe, Bury £36m to a special purpose vehicle established by Select Property Group and the Greater Manchester Property Venture Fund for 677 apartments on the former BBC site in central Manchester £43m to a special purpose vehicle of Urban & Civic for 351 apartments at the junction of Princess Street and Whitworth Street in central Manchester £3.9m to Hillcrest Homes for 24 houses on the site of the Brethrens Hall in Heaton Mersey, Stockport £1.8m to Blue Dog Property for 33 apartments on the site of the former Police Station in Baguley, Manchester £22.5m to FICM for 380 apartments at the corner of Blackfriars Road and Trinity Road in Salford