More than £60m of public cash will be invested into new projects around Greater Manchester, including a 44-storey skyscraper. The Greater Manchester Combined Authority (GMCA) is set to sign off the funds at a meeting on Friday (October 9).
Funding for residential tower and other schemes
According to a report published on its website, the GMCA will put £17,000,000 into a residential tower with 364 apartments for rent on Whitworth Street West, near Deansgate in Manchester city centre. When the scheme was approved by councillors in Manchester last year, a report stated that the development couldn't offer any affordable housing or an initial sum for off-site homes, but that a future review mechanism could be secured through a section 106 agreement.
A total of £26,000,000 will be invested by the GMCA in a project in Trafford Wharf by Cole Waterhouse to build 382 rental apartments, as well as an £18.1m loan for a project in Westhoughton, Bolton to create 166,450 ft2 of commercial floorspace.
Good Growth Fund backing
Money for the schemes will come from the Good Growth Fund, which launched in November 2025 and has already seen £1bn poured into projects around Greater Manchester. It has helped build more than 5,600 new homes in total since launch, and created new space for businesses and invested in transport projects.
The Good Growth Fund works through the GMCA agreeing on allocations for priority schemes in need of investment, before further steps including internal and external due diligence and going through a credit committee. There are plans for the volume and scale of investments to 'increase significantly' over the life of the 10-year plan.
The GMCA was approached for comment.
