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 a bid to accelerate 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, which will provide a boost to the local area. It aims to link deprived Salford communities with the diverse opportunities arising from the scheme.
Work is already underway at two new university developments on site, part of the £16m North of England Robotics Innovation Centre and Energy House 2.0 – another £16m investment.
This is alongside the ongoing work at the new Science, Engineering and Environmental (SEE) building on the main university campus. This £65m facility will be home to Salford’s leading departments in engineering, robotics, science and the built environment.
Crescent Innovation will further bolster Salford’s Innovation Triangle, a collaborative network of innovation hubs based at Salford Quays, Salford Royal Foundation Trust and the University of Salford, breaking new ground in R&D and gaining international recognition for the city region.
The Innovation Triangle looks set to play a key role in Innovation GM’s collaborative work with central government to create £7bn economic benefit, 100,000 jobs, boost R&D investment across the region and help level up the North.
Since gaining approval for the Crescent delivery plan in April last year, the partnership has moved swiftly to mobilise demolition and construction work at initial sites, submitted its LUF bid and is now exploring meanwhile uses for vacant spaces, to serve the local community.
Over the next 10 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 with sustainability, community prosperity and active travel at the heart of plans.
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.
The English Cities Fund (ECF) – a strategic joint venture between Homes England, Legal & General and leading urban regenerator, Muse Developments – has been investing in Salford since 2006, bringing forward the £1bn, 50-acre Salford Central masterplan, transforming two key areas of the city from under-used spaces into vibrant, connected residential and commercial destinations respectively, driving investment, opportunities and prosperity right into the heart of the city.
Phil Mayall, regional director at The English Cities Fund, commented: “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
Salford City Council recently launched a range of initiatives aimed at creating a fairer, greener and healthier Salford. The Salford Way aims to build on Salford’s reputation for driving positive economic and social change, enabling people to reach their full potential and live prosperous, fulfilling lives.
Tom Stannard, chief executive at Salford City Council, commented: “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.”