Manchester City Council has selected Far East Consortium to deliver its Northern Gateway project, which aims to create 10,000 new homes over the next decade with a focus on sustainability.
The vision of the project is to create “a series of connected communities that make the most of the area’s natural resources”, including the River Irk and its prime location close to the city centre.
It will unlock the residential development potential of 13 million sq ft of land north Victoria Station, taking in the neighbourhoods of New Cross, the Lower Irk Valley and Collyhurst. The project is projected to drive more than £1bn of investment over the next decade.
David Chiu, chairman of FEC, said: “Manchester is the third-most visited city in the UK and is famed for its architecture, culture, musical exports and media links along with an impressive heritage of scientific and engineering innovations. I myself have been in the city many times and am of the belief this project is a top priority for FEC in the UK. Manchester City Council market data shows the demand for new homes in the Manchester city centre will continue to exceed supply.
“Manchester is a place where people from all walks of life want to stay and where families thrive. That is why for us this project is not only exciting but also presents unique challenges that will require a leading developer with a strong balance sheet as well as solid experience in land assembly, planning and development. We at FEC believe we have all the right credentials to successfully carry out the assignment.”
The appointment follows FEC’s proposals for the Angel Meadow scheme to develop 754 new homes around the historic Angel Meadow Park, which is at the periphery of the Northern Gateway development.