The £300m Greater Manchester Housing Fund is helping free up land, regenerate housing and build new homes.
To date the fund has committed over £311m to build over 4,400 units at 23 sites across Greater Manchester. With the reaching of the £300m milestone after two-and-a-half years, the GMCA is open for business and will continue to invest in more homes across the region.
Developers can get a loan to kickstart housing projects that would otherwise be difficult to fund from elsewhere.
To qualify for funding, an application must meet these conditions:
- Any loan size considered between £500k and £30 million
- Security requirements dependent on project specifics
- Maximum four year loan term
- Stretch senior debt and mezzanine finance options. Equity investment will be considered.