£31.5m Investment Secured for Oldham's Prince's Gate as Part of Greater Manchester's £1bn Good Growth Fund
Oldham has secured £31.5 million from the first wave of Greater Manchester's £1 billion Good Growth Fund to build 331 homes beside Oldham Mumps station, 75 of them for social rent. Work starts later this year after the Prince's Gate car park closed this week.
The scheme is the first visible step in a ten-year plan to add 2,000 town-centre homes and is meant to anchor a new neighbourhood within walking distance of shops, pubs and the tram-train stop.
Council leader Arooj Shah said the cash shows the combined authority is willing to back Oldham's wider pipeline, which already includes the proposed Sports Town Mayoral Development Corporation and the Northern Roots urban farm.
Across Greater Manchester the initial £400 million slice of the fund is expected to deliver almost 3,000 homes, 22,000 jobs and 2 million sq ft of workspace, though no completion date has been given for the Oldham homes.
The town still needs many more affordable properties; 75 social units is a start, but pressure on waiting lists remains high and further funding rounds will decide how much of the promised 2,000 homes are within reach of lower-income families.
At a Glance
| Homes coming to Prince's Gate | 331, including 75 social-rent units |
|---|---|
| Site of former car park | Immediately beside Oldham Mumps station |
| Total GM first-wave pot | £400 million of £1 billion pledged |
| Oldham's wider housing target | 2,000 town-centre homes over ten years |
| Jobs projected across GM | 22,000 from initial £400 million spend |
| Other linked projects | Sports Town MDC and Northern Roots eco park |
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