Mayfield Park is located on the banks of the Medlock River, near Piccadilly Station.
The 6.5-acre (26,000-square-meter) public is part of a 1.4 billion pound plan to regenerate a ruined domain south of Fairfield Street with lots of new homes.
The task is included in a “Earning Building Fund” for assignments to be delivered within 18 months.
Sir Richard Leese, head of Manchester City Council, said: “The factually transformative prospect of Mayfield’s allocation deserves not to be underestimated, and this investment will not only unlock the opportunity to advance the city’s new park, but will also actually pave the way for the entire Mayfield allocation to be delivered over the next decade.”
He added: “Providing a new green area in the city centre on the proposed scale is an opportunity to bring a new life to an underutilized component of the city.”
He said the investment “is particularly welcome at a time when Manchester is focusing on the post-pandemic economic recovery.”
The first phase of Mayfield’s assignment is expected to take two years, however, the full assignment may only take 15 years to complete.
The park will be Manchester’s first public park since Wythenshawe Park was transferred to the city in 1926.
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