The funding will help build 210 homes in total – 119 of which will be affordable housing – at sites across north and east Manchester and one site in the city centre.
81 of the affordable homes are part of the Council's Project 500 initiative that works in partnership with the city's registered housing providers to make available smaller, harder to develop pockets of land to increase the number of affordable homes available in the city.
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Initially Project 500 looks to build 500 affordable homes in partnership with housing providers in the city, with the ambition to exceed that number in the coming years.
All of the Project 500 homes will be capped at the Manchester Living Rent. This is a level of rent capped at the Local Housing Allowance (LHA) rate and ensures that these homes will be affordable to as many people as possible, including those in receipt of housing benefit.
The final site is the first development brought forward at Rodney Street in Ancoats by This City – the Council's wholly owned housing development company. The city centre site will deliver 38 affordable homes capped at the Manchester Living Rent, improving access to affordable homes in the city centre.
The Rodney Street site will deliver a total of 129 homes with 91 market homes subsidising the cost of the affordable homes at the site.
