The partnership delivering Crescent, a major 240-acre regeneration scheme in Salford, has submitted a £13m application to the government’s £4bn Levelling Up Fund (LUF), in an attempt to speed up the delivery of Salford Rise – a key infrastructure project to connect communities across the city and act as a catalyst for the wider £2.5bn masterplan.
Salford Rise is a central piece of the Crescent masterplan, providing a pedestrian podium spanning the busy Frederick Road in addition to new public realm which connects the facilities within the Crescent Innovation area.
Phil Mayall, regional director at The English Cities Fund, said: “Having collaborated with Salford City Council on several key regeneration projects, we’re excited by the growing momentum and progress on site at Crescent, working closely with our partners at the University of Salford.
“In Salford Rise, we have an infrastructure project that will foster inclusivity, connect communities and help support innovation across the city. Salford Rise is shovel-ready and we continue to deliver aspects of the wider Crescent masterplan – setting us apart from many rival LUF bids.”
The English Cities Fund (ECF) is a strategic joint venture between Homes England, Legal & General and leading urban regenerator, Muse Developments, it has been investing in Salford since 2006, bringing forward the £1bn, 50-acre Salford Central masterplan.
Over the next ten years, the partnership will unlock more than £1bn of private sector investment to deliver more than 3,000 new homes across six distinct districts, 1m sq ft of space for innovation and study, 1m sq ft of commercial floor space, and a new transport hub - all sitting within swathes of open green space.
Crescent will also create up to 7,000 new jobs, with more than £90m expected to be reinvested into local communities, through new revenue from business rates realised on completion of the scheme.
Tom Stannard, Chief Executive at Salford City Council, said: “Crescent and the Levelling Up fund are hugely important to Salford, not only as the next part of our ambitious ongoing regeneration plans, but also as support to our commitment to address inequalities across the city.
“Connecting people and communities with key local infrastructure and enabling that connection with Greater Manchester and beyond is vital in tackling those inequalities and Crescent will help achieve this. Crescent’s vision for this part of the city is truly inspiring and offers an exciting opportunity to shape the future for residents, industry and the education sector.”
Since the partnership gained approval for the Crescent delivery plan in April 2021, it has actively been looking to mobilise demolition and construction work at initial sites, submitted its LUF bid and is now exploring meanwhile uses for vacant spaces.
