A staged affordable housing contribution replaces on‑site provision. Payments will be triggered by post‑construction viability appraisals across the scheme’s phases and capped at £114m.
Renaker and Manchester city council agreed a section 106 deal that caps affordable housing payments for the five‑tower Great Jackson Street scheme at £114m.
The sum is split into a maximum £33m liability for the 71‑storey Lighthouse site and up to £81m for the second site, called The Green, which contains four towers.
Developer Renaker has reached a section 106 agreement with Manchester city council that clears the way for a five‑tower residential scheme on Great Jackson Street. The development comprises nearly 2,400 homes across two sites and had been delayed by extended negotiations over affordable housing contributions.
The agreement sets a maximum payment‑in‑lieu figure of £114m for affordable housing rather than delivering affordable units on site. That cap is split: up to £33m linked to the 71‑storey tower on one site and up to £81m for the second site, referred to as The Green, which contains four towers.
Staged viability and clawback mechanism
The council accepted that an immediate demand for the full sum would make the project unviable. Instead, the S106 specifies a staged approach. Each development phase will be subject to a viability appraisal once 75% of the homes in that phase are complete. If the appraisal shows the developer's margin exceeds the permitted profit, the council is entitled to 50% of the surplus. Payments across the whole scheme are capped at the £114m ceiling.
Any clawback proceeds are ringfenced for affordable housing within Manchester. The S106 also includes a separate allocation for environmental improvements in the city.
The two approved sites together form one of Manchester's largest high‑rise residential projects. The scheme was designed by SimpsonHaugh Architects and had planning approval for nearly 2,400 homes more than two years ago, but progress was slowed by protracted talks around affordability and viability.
The delivery team listed in the agreement includes Deloitte, Curtins, WSP, GIA, Godwins, TPM Landscape, Stephen Levrant Heritage Architecture, Element Sustainability, FutureServ and Chris Burnett Associates.
The staged viability mechanism balances the council's requirement to secure affordable housing contributions with the developer's position on deliverability. It allows construction and phased delivery to proceed without an immediate large cash burden, while preserving the council's ability to claim a share of upside if the scheme proves more profitable than forecast.
Concrete outcomes the council will receive depend on final development margins across phases. The maximum public benefit in monetary terms is the £114m cap and the requirement that any payments be spent on affordable housing inside Manchester.
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Partners behind the scheme said ‘no comparable site in Greater Manchester offers the same combination of hospital adjacency, medical school and university proximity'
Housing secretary Angela Rayner said the scheme would become “one of the biggest regeneration projects in the country”
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