Extra 14m help for Farnworth Market Precinct revival
A FRESH cash injection for the future redevelopment of Farnworth has been secured by Bolton Council from the combined authority.
As revealed by The Bolton News last week, an application had been made to the GMCA's brownfield fund to back the bid for 94 new homes and commercial space in Farnworth town centre.
The homes and retail offering are the backbone of the Capital & Centric blueprints for the Market Precinct. The funding is coming from the Greater Manchester Brownfield Housing Fund, a scheme established in 2020 to encourage building works on former industrial land across the city region.
Bolton Council was able to make the approach as brownfield schemes in Wigan and Rochdale, for which financial support had already been indicated, were no longer viable under the terms of the fund.
Cllr Martyn Cox, council leader, said: "We are delighted that our bid had been successful, and that Farnworth town centre has now been confirmed as a recipient of £1.4m from the GM Brownfield Housing Fund.
“This will add to the funds already being invested by the council as we make good on our commitment to regenerate Farnworth town centre.
“This decision by the GMCA shows there is confidence in Bolton Council, and our partners, to deliver ambitious redevelopment projects.â€
The initiative, scaled down from original estimates, has already benefitted from substantial Whitehall funding allocations, announced late last year.
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