A new district is to be built in Salford after a deal was agreed by the city council and the university
A memorandum of understanding has been signed between the two paving the way for the selection of a private sector partner to deliver the ambitious scheme.
The aim is to have a single developer or consortium appointed with work starting by the end of this year.
A prospectus detailing the huge scale of the scheme which will cover the 200-acre site was launched today on the international property stage at MIPIM in Cannes.
Salford Mayor Paul Dennett said: “We are looking for the right kind of private sector partner, a partner which recognises the city’s ambition for inclusive growth and development which benefits the people of our city.
“We will want to know they recognise and understand the unique social value opportunities afforded by these developments, local jobs and training as well as the supply chain and explain how they can best be delivered through inventive processes and partnership working.
“If it is done right we have an opportunity to drive the kind of development here that could be a model across the world.”
University of Salford Vice-Chancellor Professor Helen Marshall said: “We are looking forward to hearing from developers who truly understand our vision for The Crescent.
“Salford is the fastest growing economy in Greater Manchester and our University is the fastest growing in the North West, so we’re looking for a partner whose ambition matches our own.
“Bringing together partners to drive progress is fundamental to our philosophy as a University and collaboration runs deep in the DNA of this city, so we want The Crescent to be a place where science meets creativity and industry meets innovation, to create a truly unique place to live, learn, work and play.”
The Masterplan, by 5plus Architects includes housing, commercial and retail and public spaces.
5plus Architects Director Tony Skipper, said: “Our plans are radical; we have created a masterplan framework that will deliver a new city district with a mix and variety of use, including housing, education, arts and culture, to rival any other.
“Only minutes from the centre of Manchester; connected by mainline rail services; the masterplan has significant appeal. Our design approach has been based on a place-making strategy which builds upon the essence of Salford; retaining its uniqueness; building on its heritage, research and industrial strengths and growing its local community.”
CBRE is advising on the process and national head of planning and development Iain Jenkinson, said: “This prospectus presents an opportunity to the market to get involved in one of the largest mixed-use schemes in the UK.
“A project for the next 20 years that will be transformative, not just for Salford but for the wider city region.
“This Partnership has already shown great vision and we expect huge levels of interest from the private sector to help deliver that vision.
“We are looking to have identified a preferred Private Sector Partner by summer 2019 and fully anticipate to be working proactively with that partner to bring the Masterplan to life through the second half of the year.”