Another £62.3m of taxpayer's money will be loaned to a city centre developer building skyscrapers with luxury flats, taking the total awarded above £130m. Renaker will receive the loan from the Greater Manchester Combined Authority (GMCA) for its Three60 scheme next to the Mancunian Way.
The development in the Deansgate Square area, described as 'a luxury living experience like no other', will feature 441 flats – but none will be affordable. Renaker has also received loans of £32.4m for The Blade - a similar scheme on the same site - and £37.6m for Collier's Yard in the Greengate area of Salford.
None of these new apartments will be affordable, but the developer could contribute towards affording housing elsewhere in the city at a later stage. The plans also include creating a new public park and a primary school nearby.
