The University of Manchester has selected Viridis, a consortium of GRAHAM (investor and construction), Equitix (infrastructure investor, developer and manager) and Derwent FM (facilities management), as the preferred bidder and delivery partner for the next phase of the University's Fallowfield Campus development project.

The GBP 400 million (US$ 520 million) project will be executed under a Design, Build, Finance, and Operate (DBFO) model. The University and Viridis will collaborate to develop DBFO delivery plans, aiming to reach financial close by summer 2025. Once completed, the expanded Fallowfield campus will provide up to 5,400 student beds by replacing outdated accommodations and delivering 3,300 modernized bedrooms to meet increasing demand.

The redevelopment will occur in multiple phases. The demolition of Owens Park Tower and surrounding buildings, which have been closed for several years, is ongoing and expected to be completed by early 2025.