Mayoral Development Corporation launches in Stockport

Greater Manchester Mayor, Andy Burnham along with cabinet members and officers from Stockport Council, have launched the region’s first Mayoral Development Corporation – MDC – and the first such initiative in the UK to focus on a town centre.

Through the MDC, development sites can be unlocked to accelerate the speed of transformation and assist in tackling the changes and challenges faced by town centres throughout the UK. In Stockport, this will be by creating new urban communities that will ensure the future sustainability and viability of the town centre.

The next phase of Stockport’s regeneration is the creation of Town Centre West, Greater Manchester’s ‘newest, greenest, coolest, affordable urban neighbourhood’.

Town Centre West will consist of 3,500 new homes and amenities, 1,000,000 square feet of employment space – offices, retail, leisure, health and education, which is expected to create over 5,000 new jobs – in a new community ‘for everyone.’

Following the first MDC board meeting, Mr Burnham welcomed an audience of 100 invited guests including from major developers, potential partners and key representatives from Stockport’s business community.

Prior to inviting questions from the floor to be put to a panel representing Stockport Council, Homes England and global Stockport based business musicMagpie, Andy praised the Chief Executive of SMBC, Pam Smith and the directors of Place at Stockport Council for their determination in seeing the MDC come to fruition and for the way in which ‘political and diversive opinions’ had been left at the door to bring about an MDC Board that will work in collaboration to deliver another successful regeneration project at Town Centre West.