GMCA approves first £400 million from GM Good Growth Fund

Greater Manchester leaders gave their approval to the first wave of investment from the GM Good Growth Fund at the latest Greater Manchester Combined Authority (GMCA) meeting on Friday 28th November.

The £1 billion GM Good Growth Fund was announced by Mayor Andy Burnham in Stockroom in Stockport town centre on 20th November, along with a £400 million pipeline of initial investments. The fund looks to support high-impact housing, employment, and regeneration projects throughout the city-region that ensure Greater Manchester’s economic growth is felt in all communities throughout the 10 boroughs.

The first £400 million investment, now signed off by GMCA , will deliver nearly 3,000 new homes, more than 22,000 new jobs and 2 million square feet of new employment space. That initial investment is also set to unlock a further £1.3 billion in private capital, helping get new development off the ground, creating new opportunities across Greater Manchester, and cementing the city-region as the best place to invest in the UK.

Stockport, which is to receive the largest share of the initial investment of any borough besides Manchester, will receive £56.3 million to support two major town centre housing schemes:

£41.3 million to help unlock the Stockport 8 development – a new walkable and sustainable neighbourhood of 1,300 energy-efficient homes in the town centre, delivering 435 new homes in the first phase, including 82 for affordable rent. 

£15 million to bring forward 245 new homes on a derelict office block and car park site on Fletcher Street in Stockport town centre. The age-inclusive homes, set within an environmentally sustainable building, will meet the Lifetime Homes standard, ensuring they are accessible, convenient and adaptable for people throughout all stages of life.

At the GMCA meeting in Bury, Leaders also approved plans to support development at Stockport Interchange, extending a £26 million loan for the flagship transport-led regeneration scheme. 

Mayor of Greater Manchester Andy Burnham said: 

“Greater Manchester is raising the bar on growth.

“Our first decade of devolution has transformed our city region – we are the fastest growing part of the UK economy. We should be proud of that, and proud of the real, tangible growth we see in our city centres.

“But we know we can go even further and faster in the next decade. We will bring good growth to every corner of Greater Manchester, so everyone and every place can contribute to and benefit from that economic growth.

“Today we are backing the first 17 projects in a pipeline that will deliver new homes, jobs, infrastructure, and transport links across our 10 boroughs.

“Make no mistake: this a moment in our devolution journey every bit as big as bus franchising.

“We won’t accept anyone telling us how high to set our ambition. We will back our places, and make sure good growth goes right around Greater Manchester in the decade to come.” 

Welcoming the GM Good Growth Fund investments in Stockport, Stockport Council Leader Cllr Mark Roberts said: 

“This is a huge vote of confidence in Stockport and the partnership-led approach that has transformed our town centre. The Good Growth Fund will turbocharge the next phase of regeneration in our town centre, helping us transform underused land into sustainable, thriving neighbourhoods with high-quality homes and places for people to come together. 

“Stockport is already one of Greater Manchester’s success stories, and this investment ensures we continue to lead the way in regeneration and go even further and faster. This boost not only means new homes but new opportunities for everyone across our borough, with new jobs in construction, growth for businesses, better connectivity and ensuring our town centre continues to flourish for everyone.” 

The next wave of funding for projects in the GM Good Growth Fund’s Integrated Pipeline, set to drive more good growth in every borough of Greater Manchester, will be announced in March 2026.