A proposed public body led by Lord Sebastian Coe to drive forward regeneration and investment in the Old Trafford area will go ahead after official approvals.
The establishment of the Old Trafford Regeneration Mayoral Development Corporation has been approved by Trafford Council and Greater Manchester Combined Authority, following a recommendation by Greater Manchester Mayor Andy Burnham. It will be legally formalised following Parliamentary approval.
Chaired by the renowned businessman and former Olympian Lord Coe, the MDC will co-ordinate multi-million-pound efforts to transform the area, as a key part of the Greater Manchester Strategy and its 10-year growth and delivery plan.
During public consultation on the proposal, 78% of participants agreed with the creation of the MDC and felt it would support development, growth and improvement.
Andy Burnham said:
“The Old Trafford regeneration project represents the biggest opportunity for urban regeneration this country has seen since 2012 – and if we get it right, the economic prize could be huge.
“The MDC will be the driving force behind these proposals, helping to deliver a transformative vision for new homes, jobs, and growth, benefiting not just Trafford and Greater Manchester but the whole of the UK.”
A spokesperson for Trafford Council said:
“The MDC will be a powerful organisation that will bring significant advantages to this ambitious, complex and long-term project.
“Its broad public and private sector expertise at board level will focus on co-ordinated and consistent delivery to develop and deliver the strategic vision to make Old Trafford a world-class, community and sports-led visitor destination, rich in culture and entertainment.”
Ambitions are to make Old Trafford one of the best places in the UK to live, work, and visit, with up to 15,000 new homes, including affordable homes, as well as employment opportunities.
The MDC will work in partnership with Trafford Council, GMCA, local communities, strategic landowners and developers, including Manchester United.