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?HCA funding enables completion of Ancoats building project

The Homes and Communities Agency (HCA) has announced ?it ?has provided £6 million of funding to a landmark building project in Ancoats, Manchester. Although work on the site has stalled on several occasions, the new finance - which was provided via a loan from the Get Britain Building programme - has seen it finally completed. Dubbed Nuovo Apartments, the location is a mixed-use scheme that incorporates 166 homes and ground floor commercial office units. This is situated on the edge of the Ancoats district - a resurgent area of north Manchester, which is within walking distance of the fashionable Northern Quarter and the city centre. A total of 126 of the abodes will be sold privately, with prices starting from £117,500, while the remaining 40 will be offered as affordable housing. The Manchester Place partnership between the HCA and Manchester City Council are collaborating on a wider scheme to transform the area, which Nuovo Apartments represents a key part of. Both parties will be able to undertake the activity needed to bring developments forward under the terms of this framework, which is essential to the completion of such projects. Strategic land assembly, remediation, infrastructure, accelerating market-ready opportunities and place-making are some of the considerations the framework takes into account. Managing director of developers UK Land & Property Simon Parker said: "We are delighted to be launching this high-quality development at a time when Manchester is enjoying a renewed period of growth and ambition in the residential sector." Executive director for the north-west at the HCA Deborah McLaughlin also praised the latest development. "It is great to see that Nuovo has been completed after many years of hard work," she commented, adding: "It's an extremely important scheme and is a prime example of the positive outcomes that the HCA's funding and support can deliver." 

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