Eight hundred new homes specifically for private rent are to be built across Greater Manchester.
The homes form part of the government’s £1 billion Build to Rent scheme, which is well on track to build 10,000 new homes for private rent, designed to help developers produce large-scale, quality homes, specifically for the private rented sector.
Renaker will receive £55 million to build 779 new homes across two sites in Manchester and Salford.
Renaker will devote £35.1 million towards providing 497 homes at the Greengate development in Salford, minutes away from Manchester Cathedral and a further £20.2 million will be invested in providing a further 282 homes for rent at their Cambridge Street development, off Oxford Road.
Each site will include a mix of 1, 2 and 3-bedroom properties. Work is already underway, and is expected to be completed by the middle of next year.
Housing Minister Brandon Lewis announcing the deal said:
Millions of people use the flexible option of renting so I’m determined to create a bigger, better private rental market offering greater choice for tenants.