Manchester has continued to grow as a residential property hotspot over the past few years, with more people than ever interested in living, working, and investing in the city. Therefore, continuous high-quality residential projects are needed to keep up with this demand. The latest addition to this comes in the form of the Manchester Red Bank Riverside project, which is set to form a huge part of the existing Victoria North regeneration scheme, which is investing a massive £4 billion into transforming this particular area of the city.
Manchester’s Red Bank Riverside project is designed to create a brand-new neighbourhood, creating more than 5,500 homes over the next 15 years. The space will be designed to accommodate for a variety of residential needs, with different property types and tenures, and will be complimented by the desirable riverside location and the fact that it is close to Victoria station, making it highly accessible.
This project will be a crucial element of the existing Victoria North scheme, which is already transforming this city centre location. The Victoria North scheme is being funded and developed by Manchester City Council alongside developers Far East Consortium, a Hong Kong-founded company that specialises in high quality residential and mixed-use developments.
The Victoria North scheme has been described as one of the UK’s ‘largest and most ambitious regeneration projects’ and will also be the largest development scheme in Manchester’s history. This means exciting things for architecture jobs in Manchester and property jobs in Manchester too.
This development will mean great things for Manchester’s local economy as well, as increased high-quality residential space will offer more investment opportunities for local and international investors alike, as well as having a positive halo effect for local businesses as more people come to live and work in this area of the city.
The development has been described as a ‘refreshingly green take on urban living’ and is set to include interesting features such as a residents-only Clubhouse, which will include a bar, restaurant, fitness facilities, private-hire dining opportunities, co-working spaces, and more.
The Red Bank Riverside project will also benefit from the wider aims of the Victoria North scheme, with better connected public spaces which will make accessing other parts of the city more accessible to pedestrians and cyclists alike. The development will also include the City River Park, which is a significant boost to making the city centre more of a green space amidst the overall urban focus.
Such an ambitious project is exciting for Manchester as a city for several reasons. It will boost the overall economy thanks to expanded opportunities for residents and investors. It will also assist with the ever-growing demand for residential space in the city centre, offering living spaces for a range of demographics from young professionals to families and more. As this development comes to life, it may also assist in attracting further investment to the area, so it will be interesting to see if similar developments pop up over the next few years as well.
