Government money will help see 189 homes built
Homes England has agreed a £30m loan with the partnership regenerating the 25-acre Middlewood Locks brownfield site in Salford.
The money from the government agency will see 189 homes built as part of the third phase of the scheme. The partnership is Middlewood Locks KLM, made up of Scarborough Group International and its joint-venture partners Metro Holdings and Hualing Group.
Housing Minister Stuart Andrew said: ““The regeneration of our towns and cities is a key part of our levelling up mission. I am pleased to see the progress being made at Middlewood Locks, a major regeneration project for Salford that will deliver vital new homes for the city, create jobs and boost the wider economy. It is a fantastic example of our brownfield-first plan to transform disused land into thriving communities.”
Middlewood Locks is a significant regeneration project in Salford and once complete it will deliver over 2,000 homes. Phases one and two, delivering 1,117 homes, have already been completed.
Peter Denton, chief executive at Homes England, said: “With the first two phases of Middlewood Locks now complete, we’re already seeing the transformational impact that this scheme is having on the local area. This latest funding will help to bring forward the next phase and add a new community to the already vibrant neighbourhoods created there.”
The £30m comes from the government’s Levelling Up Home Building Fund, providing development finance to small-medium housebuilders.
Homes England gave short- and long-term loans to support the creation of 1,100 homes in the first phase of the scheme.
It is also supporting another 240-acre scheme in Salford that will deliver more than 3,000 homes. The agency’s English Cities Fund, a long-standing partnership with Legal & General and Muse Developments, has secured the £2.5bn, 240-acre scheme at Salford Crescent in partnership with Salford City Council and the University of Salford.