Devonshires advises on the proposed Joint Venture between the Greater Manchester Combined Authority and members of the Greater Manchester Housing Providers
Ten Registered Providers and the Greater Manchester Combined Authority have confirmed their commitment to create a joint venture to unlock the development of strategic sites in the region.
The joint venture aims to deliver additional market sale homes in the North West, as well as helping to cross-subsidise social housing with additional profits gained from the joint venture.
Devonshires partner Jonathan Jarvis said: “We are delighted to have been able to work with the members of the Greater Manchester Housing Providers and the Combined Authority to develop a joint venture model that will secure the investment to unlock a number of strategic sites in the region. It is a good example of the opportunities that devolution can create.”
The initial partnership is intended to last for seven years, with the intention of extending beyond this period.
The associations involved include: Bolton at Home, Great Places, Irwell Valley, Mosscare St Vincent’s, One Manchester, Onward, Salix Homes, Southway Housing, Trafford Housing Trust and Wythenshawe Community Housing Group.
The Devonshires team advising on the joint venture include partners Jonathan Jarvis and Julian Barker and solicitor Joanna Bouloux.