An investment company has agreed to pay £2.4m in developer contributions to unlock a project that will bring 50 new homes to the Salford banks of the River Irwell.
Salford City Council granted consent in principle for the scheme last year and now that a Section 106 agreement has been signed.
The agreement has signed all permissions required for the investment company, J2 Corporation to make a start on site.
Plans for the redevelopment of a 2.7-acre former industrial site off Regatta Street that overlooks the River Irwell were lodged in 2023.
The agreement will see J2 Corporation pay £1.5m towards affordable housing in the development.
The application has been granted will see the demolition of an existing building and redevelopment of the land to accommodate 50 residential properties.
The new residential homes in Salford will include 36 three-bedroom and 14 four-bedroom houses – allowing comfortable living for families in the area.
The properties will be arranged over three storeys in height and within four core blocks, which will contain a mixture of communal gardens, private amenity space and on/off-streetcar parking.
In the planning application published in 2023, it stated that “the proposed development will deliver positive economic, social and environmental impacts for the local area.
“Primarily, the scheme will create new homes through the efficient use of land that will help meet the increasing need across Salford.”
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