How £163M in public investment is reshaping Greater Manchester
Greater Manchester has approved a new wave of public investment worth £168.31 million, targeting transport, housing, and innovation projects across the region. The funds, announced as part of the Good Growth Fund, are designed to unlock new homes, jobs, and economic opportunities at a time when private investors are pulling back.
The Greater Manchester Combined Authority (GMCA) says the latest package brings total approved investment under the fund to more than £900 million since its launch in November 2025. The authority frames the spending as a signal to the market that the region is open for business and ready to move forward.
What does the £163M investment package include?
The new allocations break down into four main areas: £52.7 million for transport, £49.8 million for city centre housing schemes, £25.69 million for innovation projects, and £22.96 million for affordable and social housing. The funding mix includes grants, loans, and subsidised loans, according to a report prepared for the GMCA meeting on September 25.
Which transport projects get the largest share?
Transport receives the biggest slice, with £24.2 million going to new walking and cycling routes in Bury town centre, including demolition work to free up land for housing. A further £16.1 million will build a mobility hub at MIX Manchester, the science and manufacturing campus near the airport, while £9.9 million improves routes around Salford Crescent. A £2.5 million 'floating walkway' will connect the city centre to Holt Town and the Etihad Stadium.
How does the housing funding address affordability?
Housing projects receive a mix of loans and grants aimed at boosting supply and affordability. A £21.8 million loan supports 251 apartments at No1 Lord Street in the Green Quarter, while a £28 million grant helps unlock 478 homes in the Red Bank area, subject to government funding confirmation. In Salford, a £4 million grant fills a viability gap for 144 affordable homes in Ordsall, with 84 for social rent and 60 for shared ownership.
Additional funds support regeneration in Stockport and Salford, with £16.2 million for the Adelphi Village scheme and £2.8 million for Stockport 8. The GMCA expects to recover its investment from these rental developments. In Oldham, the Princes Gate scheme shifts from market rent to 259 affordable homes, converting a £35 million allocation into a £14 million grant.
Why is this investment happening now?
The GMCA says the timing is deliberate. With other funders pulling back, public investment sends a clear message that Greater Manchester is open for growth. The report highlights 'city centre densification, unlocking growth through transport infrastructure, accelerating innovation, and increasing the delivery of social and affordable homes' as the core goals.
What happens next for the Good Growth Fund?
The allocations will be formally approved at the GMCA meeting on September 25. If confirmed, the projects will move forward over the coming years, with the authority tracking progress against its goals of new homes, jobs, and improved public spaces.
Photo: Manchester Evening News