Place RESI 2015: Deborah McLaughlin, Manchester Place

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

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

• £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

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