The Government has approved a multi-billion pound plan to regenerate and develop a new neighbourhood around Old Trafford.
It comes following the plan to build a new 100,000 seater stadium for Manchester United.
The Old Trafford Regeneration Mayoral Development Corporation (OTD MDC) officially launched at the Imperial War Museum North, with keynote speakers including chair, Lord Sebastian Coe, Group Chief Executive for GMCA, GMFRS and TFGM Caroline Simpson; Manchester United’s Chief Operating Officer, Collette Roche; and Trafford Council Leader, Cllr Tom Ross.
The project director will be Karen Hirst.
“I am delighted to be leading this amazing project,” said Hirst.
“Working in partnership with local people, and the public and private sectors, the OTR MDC will co-ordinate efforts, attract investment and keep communities at the heart of decision making.”
It will focus on a 370 acre area, which will eventually see 15,000 new homes and the creation of 48,000 new jobs locally and 90,000+ nationally.
In addition the corporation will support Manchester United’s stadium ambitions.
They say the developments are expected to add over £7bn per year to the UK economy.
“Today is a defining moment, the beginning of a long-term commitment to transforming the Old Trafford area. We are now open for business – and there’s a lot to do!” said Lord Coe.
“Over the next few months we will share our outline masterplan and we will begin to make this vision a reality.”
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Greater Manchester Mayor Andy Burnham added:
“The Old Trafford Regeneration scheme represents the biggest sports-led regeneration project since London 2012 – right here in our city region.
“This new Mayoral Development Corporation, spearheaded by Lord Coe and Karen Hirst, will bring together the expertise and the drive to make this a success, transform this area with thousands of new homes, and bring a massive economic boost to Greater Manchester.
“Our Mayoral Development Corporations are a proven model of success – which is precisely why we’re backing Trafford and other areas across Greater Manchester with the powers to deliver these major regeneration projects.”
The OTR MDC has been set up by Trafford Council and Greater Manchester Combined Authority “to enable the delivery of the regeneration at pace.”
“Under these plans, Old Trafford will become one of the best places in the UK to live, work and visit – every day, not just on matchdays,” explained Trafford Council Leader, Cllr Tom Ross.
“We will work with ambition, determination and transparency to create a neighbourhood that will benefit our existing residents and businesses as well as exciting and drawing in the wider world. This really is a once in a lifetime opportunity – it’s here and it’s begun.”
The development will sit within the Western Gateway Mayoral Development Zone, an initiative in Greater Manchester aimed at fostering economic growth and innovation, across Salford into north Trafford.
