An 18-acre housebuilding scheme with regeneration firm Keepmoat in Charlestown Riverside has been given the seal of approval by Salford City Council.
429 homes will now be built on the banks of the River Irwell.
Work is due to start on site in June 2016.
The total cost of the project, which is expected to develop over the next eight years, is £56 million.
Up to 86 properties in this first phase will go on the market for affordable rent or shared ownership through the Great Places housing assoaciation.
The scheme includes a mix of two, three and four-bed homes.
Keepmoat say they are confident that first-time buyers in Salford will be attracted to the ‘revitalised neighbourhood’ using the government-backed Help to Buy 5% deposit initiative.
The scheme includes 8.5 acres of improved open space and public realm; which will include a new play area, a football pitch and a waterside cycle and pedestrian route.
Gareth Roberts, operations director for Keepmoat in the North West said: “We are deepening Keepmoat’s strong relationship with Salford City Council and are delighted to now be delivering another ground breaking scheme for the region.
“The new Charlestown Riverside site will serve to tackle both the regional and national housing shortage, as well as the skills crisis in the construction industry. We are supporting Salford’s economic ambitions to improve the quality and diversity of housing choices across the City; while creating a step-change in housing options for local people which will attract new families in to the neighbourhood.
“As part of the project, we will also be working with the Council and Great Places Housing Group to offer training and apprenticeship opportunities.”
Salford City Mayor Ian Stewart said: “This is another milestone in our ten year partnership to bring new jobs, opportunities and homes to Charlestown Riverside.
“There will be a wide mixture of new homes for both sale and rent to breathe new life into a formerly run down area. I look forward to work starting on site later this year.”
