OLDHAM is set to receive a major boost after £31.5 million was committed to the Prince’s Gate development as part of Greater Manchester’s newly launched £1bn Good Growth Fund.
The funding will support the construction of 331 new homes next to Oldham Mumps station, including 75 social housing units. It forms part of a wider plan to build 2,000 new homes in Oldham town centre over the coming years.
The Good Growth Fund, backed by the Greater Manchester Combined Authority, aims to drive long term development across the region by unlocking public and private investment to regenerate key areas.
Muse, the development partner working with Oldham Council, said the project will include modern, energy efficient housing and act as a catalyst for a revitalised town centre neighbourhood.
Councillor Arooj Shah, Leader of Oldham Council, welcomed the commitment and said the investment will help deliver sustainable growth and affordable homes for local people while transforming underused land in the heart of the town.
The Prince’s Gate scheme is one of several priority projects identified in Greater Manchester’s integrated growth pipeline. Others include a proposed Sports Town Mayoral Development Corporation in collaboration with Oldham Athletic AFC and the development of a 160 acre eco park at Northern Roots.
The first wave of the Good Growth Fund is expected to support the creation of nearly 3,000 new homes, more than 22,000 jobs and two million square feet of new employment space across Greater Manchester.