Market Leads & Opportunities
Salford catalyst secures mayoral backing
Plans to secure a funding boost for a Salford project that could act as a catalyst for a wider £200m development have moved ahead.A framework adopted earlier this year – which was produced by Salford City Council in partnership with the University of Salford and English City Fund (ECf) – has established a number of zones in the area.Among them is the Innovation Zone North, which is divided in two sections by Frederick Road, forming a barrier running East-to-West.A key objective for the development of this plot is to remove the barrier through the development of a major piece of infrastructure dubbed Salford Rise.This would include the enhancement of pedestrian and cycle connectivity, a sizable podium across Frederick Road and improved transport, with the development linking Innovation Zone North to Peel Park and the main university campus.The Innovation Zone as a whole is expected to deliver £200m of commercial development, more than 6,000 jobs and £416m of additional GVA.The council believes Salford Rise represents a “strategic fit” for the Levelling Up Fund announced by the government earlier this year; a £4.8bn pot designed to support town centre and high street regeneration, transport projects, and cultural and heritage assets.”Endorsement of the project for the fund by the council will enable our private sector partner to commit the necessary design fees so that the criteria for submission and delivery can be achieved,” said a report drawn up ahead of Salford City Council’s Property and Regeneration Briefing.City mayor Paul Dennett has now support the plans as the priority project for the area.
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