Rochdale will be one of the first towns to benefit from government Towns Fund with £23.6m

Artist's impression of the redevelopment of the former Central Retail Park site off Drake Street in Rochdale

Rochdale has been named as one of the first towns to benefit from the government’s Towns Fund.

Rochdale will receive £23.6million to “support its emerging digital, manufacturing and creative sectors – while helping the town centre to become a vibrant and attractive destination for residents.”

A bid for £25million was made in December 2020, asking for money for projects including a new advanced machinery and productivity institute at Kingsway Business Park, developing the proposal for hundreds of new homes on the site of Central Retail Park, supporting delivery and improvements to hundreds of homes (led by Rochdale Boroughwide Housing), developing brownfield sites for housing; and improving crossing points and additional walking or cycling options for St Mary’s Gate.

As the money received doesn't quite match the amount Rochdale bid for, the Rochdale’s Town Fund Board will now be reassessing its plans to evaluate what can be achieved.
 

Read more: Rochdale bids for £25m from Towns FundPublished: 17 December 2020

Speaking during the announcement of the Budget, Chancellor of the Exchequer Rishi Sunak said: "Levelling up means spreading opportunity and investment across the United Kingdom – ensuring everyone has a fair shot at life no matter where they are from.

"That’s why today I was pleased to announce that eight towns throughout the North West will benefit from £186m of funding via our Towns Fund to support their regeneration and recovery from Covid-19.

"This support is complemented by initiatives such as our £4.8bn Levelling Up Fund; £220m Community Renewal Fund; and £150m Community Ownership Fund – all of which will result in substantial levels of government investment in communities across the region."

Spearheaded by the Department for Housing, Communities and Local Government, The Towns Fund is a £3.4bn pot of cash set aside by government to help drive economic regeneration in selected areas.

One hundred different towns from across the UK were given the opportunity to bid for a share of the money.