Place RESI 2015: Deborah McLaughlin, Manchester Place
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Transcript of Place RESI 2015: Deborah McLaughlin, Manchester Place
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Manchester Place :
• Accelerate the ‘near to market’ pipeline • Unlock sites for development• Strategic land assembly and land remediation• Harness the potential of public funding
streams• Utilise market relationships with developers
and funders • Engage proactively with investors
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We will:
• Provide neighbourhood plans and development frameworks
• Introduce Residential Design Framework • Create platforms for investment• Develop a medium and long term pipeline
Create great places where people choose to live
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• £300m recoverable investment fund• Controlled by new Mayor• Recoverable loans or longer term equity• Available over 10 years• Receipts recycled back into fund• Aim to support 10-15k new homes
GM Devolution agreement – Fund to provide a platform for housing growth
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Investment Criteria -
• Full support of local authority• Project due diligence satisfactorily completed• Sponsor willing to accept the terms of the loan• Private sector ownership minimum of 51%
Greater Manchester Housing Investment Fund
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