New housing investment plan for Greater Manchester
THE Association of Greater Manchester Authorities (AGMA) and the Homes and Communities Agency (HCA) have drawn up a new Local Investment Plan to guide housing and regeneration development in the local area.
The new plan, LIP2, is a replacement of a previous document drawn up in December 2009, since which time the organisations said the “political and economic landscape has changed considerably”, with the amount of public sector resources that can be put into shaping new housing developments dramatically reduced.
As a result, the new plan has been set which agrees new priorities for housing and regeneration schemes in the area and gives AGMA greater control over setting its own investment priorities.
David Chilton, head of area for Greater Manchester at the HCA, said: “Through this plan, we will now be able to give valuable, targeted support to bring forward new homes that will play a vital role in helping Greater Manchester meet its economic growth ambitions.”
Lord Peter Smith, chair of AGMA, said: “Despite the squeeze on public resources, Greater Manchester needs to continue to work towards long-term economic prosperity, and the provision of new homes is essential to achieving that shared vision.
“Our second LIP explores new and innovative ways of attracting both public and private investment, and outlines the great challenges and opportunities we face within the current economic landscape.”
Since the first Local Investment Plan was signed in December 2009, the HCA and AGMA have secured investment totalling £35.5million in 843 homes in Greater Manchester.
Among the schemes to receive HCA funding have been Equity Housing Group’s Royal Oak Brewery scheme in Stockport, Contour Housing Group’s St Mary’s scheme in Oldham and Urban Splash’s Longlands development (pictured) in Stalybridge.
