Greater Manchester housing deal opens way for up to £500m investment
Projects must meet the National Housing Bank mandate and approval requirements.
The National Housing Bank and Greater Manchester Combined Authority have reached an agreement opening the way for up to £500 million in investment in new homes and regeneration projects, Homes England announced on 6 November.
The proposed investment would sit alongside the Greater Manchester Good Growth Fund, which was launched a year ago. Funding is not automatic: each project must fit the bank’s mandate and pass its normal due diligence, governance and approval processes.
The National Housing Bank is a Homes England company providing finance for housing delivery. Its chief executive, Simon Century, said the agreement was intended to accelerate new homes and mixed-use regeneration across the region.
Greater Manchester deputy mayor Paul Dennett said the approach aimed to support more social and affordable homes alongside transport, services and infrastructure. He also highlighted expectations for apprenticeships, local employment opportunities, accessibility and environmental benefits.
The £500 million figure is a potential investment ceiling, rather than confirmation that the entire amount has been paid out or allocated to named developments.