Ms Blears said: "The partners are unlocking a vital connection between the two cities and helping to extend the economic success of Manchester city centre into Salford."
The announcement of an £8.5m funding package from English Partnerships gives a green light to the scheme that will create stunning public spaces, 4,000 jobs and 2,500 new homes.
Exchange Greengate will link Salford and Manchester through a new public square, river walkway and connecting bridge. Expected to attract over £600m of private sector investment, it will be a new vibrant, mixed-use development, just minutes from Victoria Station and the commercial heart of Manchester, bounded by the River Irwell, Chapel Street, Blackfriars Road and Trinity Way.
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The development, which secured planning permission in June 2007, is being led by a partnership between Central Salford URC, Salford City Council, English Partnerships, Network Rail and ASK Developments.
The public space elements of the scheme will see the creation of a new visitor destination characterised by green spaces, attractive watersides, pedestrian-friendly walkways, water features, a public square and a new bridge across the River Irwell.
A key feature will be the recreation of the medieval market place reflecting the historic importance of the site as a centre of trade and commerce. Exceptional design quality and high standards of sustainability will be integral to the approach.
Exchange Greengate will see the transformation of 13 acres of predominately underused, brownfield land into over 2,500 residential units and over 85,000 sq m of commercial floor space creating around 4,000 new jobs.
(JM)
