Homes England, Muse, and Legal & General will recommit to The English Cities Fund (ECF) and build 6,600 new homes and 2 million square feet of innovation and commercial space in high-priority Levelling Up areas, beginning with St Helens and Salford Crescent.
The £200 million joint venture represents a ten-year extension to the long-standing ECF partnership between Homes England, Muse, and Legal & General until 2036. The programme aims to transform areas of deprivation across England by reinvesting capital into new, long-term urban regeneration schemes that support the government’s Levelling Up agenda, “creating placed where businesses want to invest, and people want to live and socialise”.
This new project includes a £2.5 billion, 240-acre scheme at Salford Crescent in partnership with Salford City Council and the University of Salford. Homes England said:
“This will bring over 3,000 homes, alongside up to 1m sq ft of space to innovate and collaborate, 1m sq ft of offices, retail, leisure and a new multi-modal transport hub with active travel at its heart to the city, all set within swathes of green space.
A catalytic infrastructure and public-realm project, Salford Rise, which received £13.17m from the first lot of Levelling Up Funding, will deliver a green boulevard in the sky that stretches over Fredrick Road to connect communities across the city to the opportunities the regeneration will create.”
There will also be a “once-in-a-generation, borough-wide transformation” of St Helens. Along with St Helens Borough Council, the ECF will “bring forward opportunities to sustainably repurpose and regenerate areas across the borough”, with developments including “a new market hall, grade-A office space, high-quality, town-centre homes, active transport infrastructure, along with extensive public realm improvements”.
Housing Minister Rt Hon. Stuart Andrew said:
“Regenerating urban areas and transforming brownfield sites into thriving communities is integral to levelling up the country.
Through the English Cities Fund, the public and private sector are working hand in hand to create high-quality new homes and jobs in areas that need them most. I welcome the extension of the Fund as we continue our work across government to spread prosperity and opportunity.”
Sir Michael Lyons, chair of ECF, said:
“Our towns and cities are the engine rooms of our economy. By bringing together the investment and regeneration skills of Homes England, Legal & General and Muse Developments, we are uniquely equipped to help in reshaping and strengthening local economies. Our ability to work at pace but with focus on long-term impact makes us an outstanding partner for ambitious communities.
We are enthusiastic about the prospects ahead, as we harness the combined potential of public and private sectors to unlock value where it is needed to benefit local people.”
