Overview
- The first £400m wave targets nearly 3,000 new homes, more than 22,000 jobs and around two million square feet of employment space.
- The funding mix includes an initial £300m from the Greater Manchester Pension Fund, recycled loans and grants, with up to £150m of GMCA borrowing expected to unlock about £1.3bn in private capital, modeled on a loans fund cleared by the courts earlier this year.
- Published first-wave allocations include £56.3m for Stockport projects and £17.1m toward Bolton’s West of Wingates 800,000 sq ft logistics hub.
- An initial £26m is committed to 382 homes at Trafford Wharf as part of the Old Trafford regeneration, with Lord Sebastian Coe named chair‑designate of a new Mayoral Development Corporation.
- GMCA is due to consider approval of the first tranche next week, with a second wave set for March and further updates planned every six months.