A multibillion-pound masterplan for the regeneration of the area around Old Trafford has been launched.
Old Trafford Regeneration Mayoral Development Corporation - which is aiming to support the creation of thousands of jobs and homes in the area, catalysed by a new 100,000-seater stadium for Manchester United – is now fully constituted following Government approval.
Stakeholders, businesspeople and community members gathered at the Imperial War Museum North to mark the historic occasion. Keynote speakers were OTR MDC 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.
Read More
Cllr Liz Patel, Trafford Council's executive member for economy and regeneration and non-executive director board member Sukhvinder Kaur-Stubbs joined speakers on a discussion panel chaired by the OTR MDC's new project director Karen Hirst.
The 370-acre regeneration area would feature 15,000 new homes, including affordable properties, and create 48,000 new locally, as well as more than 90,000 nationally. The MDC will also support the ambitions for a new, world-class football stadium for Manchester United. Together, the developments are expected to add more than £7bn per year to the UK economy.
Patrick Dorgu shone as Manchester United defeated Man City last weekendplaceholder image
Patrick Dorgu shone as Manchester United defeated Man City last weekend | AFP via Getty Images
Lord Coe said: "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! Over the next few months we will share our outline masterplan and we will begin to make this vision a reality."
Greater Manchester Mayor Andy Burnham said: "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.
placeholder image
Trafford Council
"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."
Project director Karen Hirst added: "I am delighted to be leading this amazing project. 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."
The OTR MDC has been set up by Trafford Council and Greater Manchester Combined Authority.
Continue Reading