Investing in jobs, homes and communities. Oldham and Rochdale Local Investment Plan 2010

Transcription

1 Investing in jobs, homes and communities Oldham and Rochdale Local Investment Plan 21

2 Contents Section Page 1. Introduction 4 2. Planned investment 7 3. Investment by partners 8 4. Funding from the NWDA and the HCA 1 5. Private sector leverage 1 6. Capital receipts New build activity in Oldham & Rochdale 11 Hard at work: building new homes at Nelson Place, Rochdale 2 3

3 1. Introduction The Oldham and Rochdale Prospectus builds upon the successes of the Oldham and Rochdale Economic and Skills Alliance (ORESA) and the HMR Pathfinder programmes and sets out a programme that contributes to the emerging Manchester City Region (MCR) strategy. Despite the positive start made by ORESA and HMR, they are still in relatively early stages, and the situation remains fragile, especially in the current climate, with much more needed to be done if Oldham and Rochdale are to play a fuller role in Manchester and tackle the economic disparities that exist between the boroughs and the rest of the conurbation. We have developed an ambitious eight-year programme that will transform Oldham and Rochdale, creating over 16, new jobs for the MCR, providing more than 5, square metres of new office, manufacturing and retail space, and developing more than 1, new homes, of which 2,8 will be affordable. This programme provides opportunities for more than 1.5 billion of private investment. Building stronger communities This investment will allow us to continue with our crucial programme of making Oldham and Rochdale places where people want to live and work, not leave. We recognise that public finances will be tight in the foreseeable future and acknowledge the need to increase productivity in MCR. That is why we have continued to focus on opportunities that will attract the private finance necessary to effect long term and sustainable change, and developed a comprehensive investment programme that brings together the benefits from all the key investment programmes in Oldham and Rochdale. This document complements the Prospectus by providing an indication of our initial thinking regarding the level of investment required in Oldham and Rochdale and demonstrates the impact expected in terms of private investment, capital receipts realised and outputs. It is very much work in progress. We would like to work with the HCA and NWDA, as well as partners within Manchester City Region, over the coming weeks and months to develop this into a Local Investment Agreement. 4 New modern homes at Suthers Court, Oldham 5

4 2. Planned investment in Oldham and Rochdale ( s) Youngsters enjoying their new home at Suthers Court, Oldham 6 Economic Restructuring Programme by Neighbourhood Public Private Total Public Private Total Public Private Total Public Private Total Oldham Town Centre 58, ,65 6,7 2,5 63,2 44,3 18,8 63,1 24,85 91, 115,85 Rochdale Town Centre/ Economic Corridors 46,2 46,2 43, 1,5 44,5 2,7 2, 22,7 7, 196,2 23,2 Hollinwood 1,25 1,25 1,35 3 1,65 2,25 1,55 3,8 7,75 23, 3,75 Kingsway 5, 5, 39, 39, 39, 39, 1, 1, Chadderton ,5 5,65 9,7 Heywood 1,5 12 1, ,3 1,9 3, 14, 143, Housing Renewal & Growth Derker 9,794 7, 16,794 9,622 1,2 19,822 7,653 1,1 17,753 2,51 25,6 45,651 Werneth 11,143 3, 14,143 12,252 9, 21,252 11,872 7,9 19,772 21,817 32,4 54,217 ECR 12,132 4,4 16,532 9,48 6,8 15,848 6,98 8,6 15,58 2,595 18,1 38,695 Langley 9,219 9,1 18,319 6,891 9,8 16,691 5,253 17,9 23,153 13,62 92,7 16,32 Alt & Sholver 3,248 3,4 6,648 6,221 7,95 14,171 5,817 9,6 15,417 27,916 64,148 92,64 Hathershaw & Fitton Hill 3,54 2,8 6,34 4,245 5,2 9,445 4,875 5,5 1,375 24,35 21,9 45,935 Primrose Bank 12,24 5,5 17,74 12,58 5,3 17,88 13,736 2, 15,736 3,74 4,5 8,24 Inner Rochdale 4,45 1, 5,45 7,24 7 7,94 6,565 7,4 13,965 31,312 32,5 63,812 Kirkholt 5,148 2, 7,148 5,197 4,2 9,397 5,197 6,5 11,697 29,724 71,3 11,24 Heywood 3,218 1, 4,218 2,718 3, 5,718 28,583 35,8 64,383 Other Oldham 1, 5, 6, 1, 12, 13, 1,6 13, 14,6 23,3 35, 58,3 Other Rochdale 1,1 5, 6,1 1,1 9, 1,1 1,1 9,5 1,6 6,625 23,7 3,325 Private investment in social stock Complementary 16, 16, 36, 36, 36, 36, 18, 18, BSF 9, 9, 9, 9, 9, 9, 11, 11, LIFT 15, 15, 18,4 18,4 Central Costs 2, 2, 1,8 1,8 1,7 1,7 7, 7, Total 287,864 7,7 357, ,399 16,55 454, , ,65 432, ,968 1,193,498 1,68,466 7

5 3. Investment by partners ( s) Programme by Funding Source Programme Secured Programme Secured HMR 28, 25,2 25, NWDA 4, 7, HCA 5,9 2, 5,4 2, HCA NAHP 13,83 7,38 19,178 2,42 RSLs 2,91 7,5 25,72 2,5 Metrolink 3, 3, 25, 25, FE / HE funding sources 35,4 35,5 LA 39,9 38,95 35,16 33,25 BSF 9, 9, 9, 9, LIFT 15, 15, 18,4 18,4 Other 4,923 8,687 Private 7,7 16,55 Total 357, ,3 454, , Programme Secured Programme Secured HMR 23, 85, NWDA 8, 26,4 HCA 5,25 2, 16, HCA NAHP 17,932 83,5 RSLs 23,267 81,795 Metrolink 1, 1, FE / HE funding sources 22,1 LA 13,1 11,5 25 BSF 9, 9, 11, 11, LIFT Other 2,265 12,517 Private 199,65 1,193,498 Total 432, ,5 1,68,466 11, 8 Programme by Activity Economic Metrolink 3, 25, 1, FE / HE 35,4 35,5 22,1 Retail and Leisure 4, 6, 17, 88, Economic restructuring 44,32 82,485 81,4 514,5 Housing Residential acquisitions 8,51 7,25 6,825 3,58 Relocations , Commercial acquisitions 7,86 5,5 3,7 33,75 Demolitions 8 1,12 1,1 1,6 Infrastructure/Area improvements 4,633 4,1 4,683 23, Refurbishment 2,885 2,545 2,2 2,5 Consultancy advice 58 1 Mixed use development 1, , Newbuild housing 53,24 86,96 17, ,543 Social housing delivery 4,86 5,541 48,68 166,67 Private invest in social housing stock 16, 36, 36, 18, Complementary LIFT 15, 18,4 BSF 9, 9, 9, 11, Central costs 2, 1,8 1,7 7, Total 357, , ,566 1,68,466 Between 21 and 218, we aim to: Create 16, jobs Provide 575, square metres of new office space Build over 1, new homes, of which 2,8 will be affordable Refurbish a further 1,1 homes New homes at Devon Street, Werneth overlook a traffic-calmed Home Zone 9

6 4. Funding from the NWDA and the HCA 4 6. Capital receipts 12 Well designed family homes at Nelson Place, Rochdale 35 3 HCA (Renewal & HMR) HCA NAHP NWDA 1 Economic Activity Housing INVESTMENT ( MILLIONS) /11 211/12 212/13 213/14 214/15 215/16 216/17 217/18 5. Private sector leverage Our programme shows significant planned private sector leverage, delivering new employment premises, new homes and the transformation of social housing through possible stock transfers in both boroughs. (MILLIONS) /11 211/12 212/13 213/14 214/15 215/16 216/17 217/18 7. New build activity in Oldham & Rochdale Creating and sustaining skilled jobs 3 1,6 25 HCA (Renewal & HMR) HCA NAHP NWDA Private Leverage 1,4 1,2 Affordable Housing Private Housing INVESTMENT ( MILLIONS) NUMBER OF NEW BUILD COMPLETIONS 1, /11 211/12 212/13 213/14 214/15 215/16 216/17 217/18 21/11 211/12 212/13 213/14 214/15 215/16 216/17 217/

7 Oldham & Rochdale Economic & Skills Alliance Rochdale MBC, Regeneration Service, Floor 4 Municipal Offices, Smith Street, Rochdale, OL16 1WU Tel: web: