On November 20, 2025, Greater Manchester’s leaders pulled back the curtain on what they hope will be a transformative chapter for the region: a £1 billion growth fund poised to reshape the city-region’s economic and social landscape. The plan, known as the Greater Manchester Good Growth Fund, is ambitious—not just in its scope, but in its intent to ensure prosperity reaches every corner of the conurbation, not just the city’s glittering core.
Mayor Andy Burnham, at the forefront of this initiative, described it as a “bold and prudent” approach to investment. Speaking to the Manchester Evening News, Burnham emphasized, “Good growth is the defining challenge of our age – and today we are setting out a serious, practical plan to achieve it.” According to BBC News, the initial £400 million injection is expected to unlock an additional £1.3 billion in private capital, a move designed to amplify the fund’s reach and impact. The region’s economy, already the fastest-growing in the UK with annual growth at 3.1%—more than double the national average—will be the stage on which this new model for economic growth is played out.
What makes this plan stand out? Each of the 10 boroughs in Greater Manchester was asked to identify three priority projects, ensuring that no area is left behind. The first wave of 31 projects is expected to deliver nearly 3,000 new homes, create 22,000 jobs, and add two million square feet of employment space. Thirteen of these projects are set for funding approval at a meeting on November 27, 2025, with another four lined up for March 2026. The rest will be rolled out over the coming years, with new schemes announced every six months.
Some of the projects are already generating excitement across the region. In Oldham, the Prince’s Gate scheme will receive £31.5 million to build 331 new homes next to Oldham Mumps station, including 75 units of social housing. This is just one part of a wider plan to construct 2,000 new homes in Oldham town centre over the next decade. In addition, Oldham is considering a Mayoral Development Corporation in partnership with Oldham Athletic AFC to create a centre of excellence for sport, health, and education—complete with a 3,000-seat netball stadium and a new 3G pitch.
Trafford is another borough in the spotlight, set to receive £26 million to unlock 382 new homes in the Trafford Wharf development. This is just the beginning of a much larger vision: a new 100,000-seat football stadium and 15,000 new homes, all part of an integrated pipeline of projects. The redevelopment of Stretford Mall, scheduled for March 2026, will add 427 new homes, 178 of which will be affordable, right next to a rejuvenated high street and town square.
Manchester United’s Old Trafford regeneration project is perhaps the most headline-grabbing of all. Included within Burnham’s plan, the club’s proposed 100,000-seat stadium is a centerpiece of the Trafford Wharf development. According to Manchester United’s chief operating officer Collette Roche, “We want to build the world’s best football stadium as a new home for Manchester United and a venue fit for the biggest international events, including the 2035 FIFA Women’s World Cup, surrounded by a vibrant business, leisure and residential district served by excellent transport links.” The club, which has called Old Trafford home since 1910, plans to move to the new stadium next to its historic site, with construction expected to take five years. Lord Sebastian Coe, famed for leading the 2012 London Olympics, will serve as chair-designate of a new Mayoral Development Corporation to drive the project forward. Co-owner Sir Jim Ratcliffe, speaking in March, said, “Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest football stadium, at the centre of a regenerated Old Trafford.”
Elsewhere, Bury will receive £6.8 million to revamp Prestwich village, including a new Market Hall and retail spaces, plus a multistorey travel hub. Plans for 235 new homes in Prestwich are lined up for March 2026. Bolton is set to benefit from £17.1 million for a Mayoral Development Corporation in the town centre and an 800,000 square foot logistics hub at Wingates, with the potential to create 6,900 jobs. Manchester itself will see £20 million invested in expanding the global innovation hub ‘Sister,’ £44 million for refurbishing the old Kendals department store, and £34.1 million for the Victoria North development, which aims to deliver up to 15,000 new homes.
Wythenshawe town centre’s regeneration, including 423 new homes for social rent and 109 ‘extra care’ flats, is set for support in March 2026. Rochdale’s Station Gardens project, which will bring over 200 new homes next to the railway station, is also in the pipeline. Plans are afoot to expand Metrolink tram-train services, connecting Oldham, Rochdale, Middleton, Heywood, and Bury, thus enhancing transport links across Atom Valley.
Tameside will receive £7.6 million for Ashton-under-Lyne’s town centre redevelopment, focusing on affordable homes and employment space, with a vision for up to 2,150 new homes at Godley Green, including more than 300 affordable units. Salford’s Adelphi Village redevelopment will get £23.4 million, delivering 301 homes for social and affordable rent and 42 new townhouses, as part of a £2.5 billion regeneration partnership that includes new transport links and a planned Acoustic Innovation Institute.
Stockport’s Stockport 8 development will be unlocked with £41.3 million, bringing 1,300 energy-efficient homes to the town centre, including 435 in the first phase and 82 for affordable rent. An additional £15 million is earmarked for 245 new homes on Fletcher Street. The broader plan for Stockport includes expanding the Mayoral Development Corporation to cover the entire town centre, aiming for 8,000 new homes, a new school, a riverside park, and improved transport links.
Wigan’s historic Cotton Works project will receive £14 million to redevelop the Grade II-listed Eckersley Mill complex, creating nearly 180 new homes, and £9.9 million for commercial, office, leisure, and healthcare space expected to generate around 670 jobs. There are also plans for a Mayoral Development Zone in Leigh, including a new University Campus for Health and Social Care.
What’s driving this unprecedented collaboration? The fund is a blend of government cash and £300 million from the Greater Manchester Pension Fund, with some investments structured as loans to be reinvested in future projects. It marks the start of a new strategic partnership between the Greater Manchester Combined Authority and the region’s Pension Fund, believed to be the first of its kind in the UK.
For residents like Bilal Sadiq, who lives in Oldham and works in Prestwich, the promise of new shops, community hubs, and homes is a welcome one. “I think it would be good for the area. You go to Manchester now and see all these skyscrapers being built and you think ‘what are they doing for our local area?’” he told BBC News. Sadiq, like many across the region, hopes the benefits finally reach places that have long felt left behind.
As the first projects break ground and new partnerships take root, Greater Manchester is setting out to prove that good growth isn’t just about numbers—it’s about people, places, and possibilities. With £1 billion on the table and a decade-long vision, the city-region is betting big on a future where everyone stands to gain.
