Plans have been unveiled to build more than 2,500 'affordable' homes in Manchester over the next five years.

Proposals to establish a new Housing Affordability Fund, which will help deliver the new homes, will be discussed at a council meeting on Wednesday, 18 October.

The initiative will bring together developer affordable housing contributions and other funding streams in a single pot, helping to subsidise homes that are affordable to rent or buy across the city.

-- Advertisement --

Up to £2 million a year will be invested in the Fund, with four initial Housing Affordability Zones earmarked where the Council has significant land interests which can be used to help stimulate affordable housing. The first zones will be in North Manchester, Clayton, Beswick and Wythenshawe town centre.

Deputy Leader Cllr Bernard Priest said: "Manchester is a sought-after place to live and meeting the demand for all types of housing is essential. A key part of this is ensuring a choice of decent homes at prices which Manchester people at or below the average city wage can afford. 

"We know this is a real concern for Mancunians. Our fund is an innovative response to this challenge and the proposed housing affordability zones will give us an opportunity to help create momentum."

(LM)