Manchester is the third largest city in England, behind London and Birmingham. It played a key role in the industrial revolution, but during the 1900s went through a period of urban decay. Recently, the city has seen many parts regenerated and this continues today. In this article, we’re going to look at the recent history of property development in the city and the plans for the future.
Plans for a Super Casino
A new ‘super casino’ was supposed to be built in Manchester just over two decades ago. Towards the end of the 2000s, plans were set in motion by Tony Blair’s government, and Manchester, rather than Blackpool, was surprisingly chosen as the most suitable location.
These plans were eventually shelved, but they haven’t affected the existing casino economy in the city. While no new casinos were built since this plan, the city already has several in-person casinos as well as online offerings. These allow users to play traditional casino games or even sign up to avail of bingo promotions that offer bingo bonuses, slot spins, and bargain days. So while the super casino never came to fruition, the gambling economy has still been able to develop in the city and contribute to the city’s regeneration.
St. Michael’s Development
In a project spearheaded by former footballer turned businessman Gary Neville, the redevelopment of St. Michael’s in the Deansgate area of the city is set to transform it when it is completed. The project is projected to cost £400 million and has already gained significant attention because of its high-profile backing.
Regardless, the project has everything it takes to make it a successful addition to the city. It is hoped the development will regenerate the area and will consist of nine floors of office space, a five-star hotel, and a roof-top restaurant managed by Chotto Matte, a high-end restaurant group. The project has been in the pipeline for almost a decade already, but it promises much for the city.
Mayfield
On the residential side, Manchester is expected to add further apartments and housing to meet the demand for population growth. On the site of what used to be the heart of the industrial revolution beside the River Medlock, the Mayfield development will bring with it over 1,000 new homes as well as office space, 200,000 square feet of retail space, and a new hotel.
As with many developments these days, the environmental aspect of living is also taken into consideration. A new green space will be incorporated, integrating playgrounds for children, walking spaces, and trees. It will be the first public park in the city for over 100 years. The project is expected to generate over £7 billion for the area and will be completed in the next couple of years.
Looking to the future, developments like that at St. Michael’s will only improve the city’s standing both domestically and internationally. According to TheBusinessDesk.com, Manchester’s economy is projected to grow the third fastest of any of the UK’s cities up to 2026, with a growth rate of 2.5%. This leaves it just behind its southern counterparts, but means an exciting future ahead for the city.
