Mayoral Development Corporations to deliver more than 27,000 new homes across Greater Manchester

Regeneration opportunities unlocked by Mayoral Development Corporations across Greater Manchester are set to deliver more than 27,000 new homes in the city-region.

Mayoral Development Corporations are statutory bodies, set up by the Mayor, designed to speed up development and attract investment within a specific area. They can take on broad powers including land acquisition, planning and infrastructure functions.

Such powers are being used currently in Stockport’s Town Centre West to accelerate the £1 billion regeneration ambitions for the town centre, helping bring forward schemes such as the Stockport Interchange, and the Stockport Exchange business district as well as new town centre homes, such as at Weir Mill, Stockport 8 and Stopford Park. Stockport MDC is now looking to expand its remit to advance development across the entire town centre.

Alongside Stockport MDC, and its proposed expansion , proposed Mayoral Development Corporations in Old Trafford and the Northern Gateway (part of the wider Atom Valley development area), are expected to deliver 27,250 homes over the next 15 years.

Mayoral Development Corporations are part of the city-region’s wider strategy to addressing Greater Manchester’s housing crisis, and sit alongside its Good Landlord Charter, driving up the standard of rented accommodation, and the Brownfield Housing Fund. Set up in 2020, the fund has provided grants to deliver over 15,000 homes – with an average of just over 45% being affordable housing – and invested £135.4 million to redevelop brownfield sites.

Mayor of Greater Manchester Andy Burnham said:

“If we are serious about securing the long-term success of Greater Manchester, we need to free ourselves from the grip of the housing crisis.

“Because of the decisions we’ve taken, Greater Manchester is now building more affordable homes than at any point since the turn of the millennium.

“We need to keep building on that momentum until we reach a tipping point where we build more social homes than we lose.

“We’re determined to ensure that every person in Greater Manchester has access to the safe and secure home they need in order to thrive.”

Cllr Bev Craig, Portfolio Lead for Economy, Business and Inclusive Growth said:

“Greater Manchester is leading the way in delivering new homes, jobs and infrastructure, using our devolved powers to drive growth.

“We have pioneered the Mayoral Development Corporation model to great success in Stockport and we want to replicate that success across Greater Manchester. It gives us the ability to accelerate regeneration by bringing major partners together and unlocking sites for development, directly tackling the housing crisis at its root.

“These are part of a range of tools we’re using in Greater Manchester to leverage the potential of transformative regeneration, including projects like Victoria North – a once-in-a-generation development that will deliver more than 15,000 homes and create new green spaces and employment opportunities in the heart of our city-region.”