Greater Manchester Mayor Andy Burnham has announced a major £1 billion Good Growth Fund, aimed at accelerating regeneration, housing delivery and economic development across all ten boroughs of the city region. The programme represents one of the largest place-based regeneration initiatives outside London and signals a long-term commitment to coordinated regional growth.
The fund is designed to support housing, town-centre renewal, commercial development and infrastructure, forming a central pillar of Greater Manchester’s economic strategy into the 2030s.
What Is the Good Growth Fund?
The Good Growth Fund is a locally led investment programme intended to unlock developments that are viable in the long term but have struggled to progress due to funding gaps, rising costs or market conditions.
Its objectives include:
- Delivering new homes in areas of high demand
- Revitalising town centres and underused sites
- Supporting employment space and business growth
- Improving connectivity and economic resilience
Burnham has described the initiative as a move toward “good growth” – development that benefits communities while strengthening the regional economy.
Initial £400m Allocation
The first phase of the programme includes an initial £400 million allocation, which will be used to bring forward priority schemes already identified across the region.
According to Greater Manchester Combined Authority (GMCA) estimates, this initial funding could help deliver:
- Around 3,000 new homes
- More than 22,000 jobs
- Approximately 2 million square feet of new or refurbished commercial space
The funding is structured to provide early-stage support, helping schemes overcome viability challenges and move into delivery.
Pipeline of Regeneration Projects
More than 30 regeneration projects have already been identified to benefit from the fund. These schemes span housing, mixed-use developments, commercial space and infrastructure improvements, with projects distributed across the city region rather than concentrated solely in Manchester city centre.
Examples include:
- The redevelopment of the former Kendals building in Manchester into office and workspace
- Residential-led regeneration schemes in boroughs such as Salford, Stockport, Oldham and Wigan
- Mixed-use town-centre regeneration projects aimed at increasing housing supply and local employment
This geographically spread approach reflects a broader aim to support growth across all boroughs, rather than focusing investment in a limited number of locations.
Unlocking Private Investment
A key aim of the Good Growth Fund is to act as a catalyst for additional funding. By providing early public-sector investment, the programme is expected to unlock around £1.3 billion of private capital over time.
Partnerships with organisations such as the Greater Manchester Pension Fund form a central part of this model, allowing long-term, patient capital to support regeneration and infrastructure projects.
Part of a Wider Regional Strategy
The £1bn fund sits within Greater Manchester’s wider long-term development framework, which includes:
- An integrated pipeline for housing and commercial development
- Continued investment in transport and connectivity, including expansion of the Bee Network
- Support for town-centre renewal and brownfield redevelopment
- Alignment with skills, employment and sustainability strategies
Together, these initiatives aim to provide consistency and certainty in development delivery, supporting both housing supply and economic productivity.
Housing, Jobs and Long-Term Growth
Alongside economic objectives, the fund places emphasis on housing delivery and social value. Many of the supported schemes include plans for a mix of housing tenures alongside employment space and community infrastructure.
By linking housing, jobs and transport planning, Greater Manchester aims to address long-standing supply challenges while supporting population growth and labour market participation.
Looking Ahead
The Good Growth Fund is expected to operate over several years, forming a central component of Greater Manchester’s regeneration activity through the 2020s and into the 2030s. Further project announcements and funding allocations are anticipated as schemes progress and new opportunities are identified.
As a locally led, long-term investment programme, the fund represents a significant shift in how regional regeneration is financed and delivered, with Greater Manchester positioning itself as a model for coordinated, place-based growth outside the capital.
Tom Mason
With 17 years of experience in the property industry, including the past 9 at Knight Knox, Tom Mason brings deep expertise and a results-driven mindset to his role as Commercial Sales Manager. His career began in estate agency in Rochdale, and over the years, he’s built a reputation for getting deals over the line—no matter what it takes.
Tom is passionate about delivering outcomes for his clients and thrives on the challenge and satisfaction of closing successful transactions.
