New investment is set to accelerate the progress of an ongoing regeneration project in New Islington, a district on the edge of Manchester city centre
The scheme, which will see the construction of a mixed use development on a 12.5ha site in New Islington, was at risk of delay due to the poor economic climate – but thanks to a £4.4m investment from the Northwest Regional Development Agency, the project will now go ahead as planned.
The funding will enable better connections to be created between New Islington and its surrounding areas, including a footbridge leading into the recently regenerated district of Ancoats and walkways connecting New Islington with the city centre. Links between canals and existing waterways will allow the marina to accommodate boats and thereby profit from mooring fees. These improvements are expected to encourage more people to visit New Islington, as well as attracting more investment from the private sector.
Progress has already been made in building canal links, residential developments and a new health centre, and a community event is planned for late 2010 to mark the completion of the project.
Eddie Smith, chief executive of New East Manchester, is optimistic about the potential to transform the district into an exciting destination for residents and tourists alike. He said: “In time, New Islington will be one of the most sought-after parts of the city to live, work and play in, and this is another important step towards realising this vision.”