The English Cities Fund has been named the development partner for the £2.5bn Salford Crescent masterplan.
The fund is a joint venture between Muse Developments, Legal & General and Homes England. It will now take on the development of a 240-acre district in Salford over the next 10-15 years.
Salford Crescent is one of the largest development opportunities in the region, with the potential for up to 3,000 new homes, a million square feet of commercial space and a million square feet of education space.
Salford City Mayor Paul Dennett said: ‘It is a very exciting opportunity to move our vision forward and create a new city district that is fit for generations in this city.
‘It is a very difficult time at the moment with the coronavirus pandemic and we are doing all we can at the council to help the most vulnerable, protect the NHS and save lives. But we have staff working at home who continue to work on moving the masterplan forward and we will have an official launch event at a more suitable time.’
Phil Mayall, regional director at The English Cities Fund, said: “It’s an exciting and proud moment for everyone at the fund, as we hear the news that we’ve been selected to deliver the transformational Salford Crescent masterplan.’