A new Brownfield fund has emerged to help fund the development of the Brown Fields, the massive site of the old Manchester city centre.
Brownfield Fund was launched on Monday by the City of Manchester and has raised £30m to support the development project.
City of Manchester Chief Executive Officer, Simon Treloar, said the fund would be used to finance the regeneration of the brownfields, and provide an opportunity for the local community to benefit from a significant investment in the area.
“The Brownfields redevelopment is a critical step towards transforming Manchester into a world-class city centre,” Mr Trelosar said.
The £30 million will be used towards the development, and will be invested in the redevelopment of the site, the creation of new housing and retail, as well as improving the visitor experience.
New homes and retail have been approved, and plans are in place to further develop the area, which was abandoned after World War Two.
Manchester City Council has agreed to build two luxury apartment blocks on the site to house 1,200 people, and has secured a £2.6 million grant from the Brownwell Fund.
Mayor of Manchester, Sir David Brown, said he was very pleased with the funding.
Manchester Mayor Sir David Greenfield said he would like to see more development and investment in Manchester. “
The site will become a world class urban centre and an economic powerhouse in the next 10 years, and we are really pleased to be part of that.”
Manchester Mayor Sir David Greenfield said he would like to see more development and investment in Manchester.
He said the city had been the only major UK city to have lost its brownfields.
“It is a major site that is an iconic city centre, and it has been neglected for so long,” he added.
Mr Greenfield added that he was hopeful the fund could be used in Manchester to provide a boost to the regeneration process.
Local resident Andy White, who has lived in Manchester for 27 years, said it was a “truly great feeling”.
“It’s really great that the Brownland Fund is now able to be used, which has really helped out a lot,” he told BBC Manchester.
“And it’s great to see it’s going to be able to support people to actually have a say in what happens to the site.”
I think the Brownfords redevelopment has been a big part of Manchester for the last 25 years and the redevelopment is one of the big projects that the city has been looking at.””
It will really change the face of the city and bring it into the 21st century.
