The fate of a £115m project to transform a rundown area of the city could be decided next week.
The long-awaited scheme, which has been on hold since October, would see 1,640 homes built in Pendleton. But Salford council has confirmed that a decision from the government is expected in the next week.
Treasury officials have been assessing whether the private finance initiative (PFI) will provide ‘value for money’.
The scheme will also see 1,200 council homes refurbished and is set to transform six areas of Pendleton. Building work had been due to start this year.
Salford MP Hazel Blears is among those calling for a swift decision from the government.
She raised the issue last month in Parliament with housing minister Grant Shapps.
Ms Blears said: "At this difficult time of rising unemployment, the jobs that would be created, many of them for local people, are crucial.
"I will take it to the prime minister if we don’t get an answer very soon."
Councillor Lynn Drake, who represents the Langworthy ward, said: "I haven’t heard anything but I am really confident it is going to happen. It is going to mean a massive change and generate jobs.
"It would be big news especially for people living in the blocks of Pendleton flats. People have been waiting for this for years. It is like a new beginning for everybody, with the plans to do the precinct up and a new Tesco as well."
Mr Shapps gave the project, which includes a mix of houses and flats, the go-ahead last summer.
Two regeneration consortia – SP+ and Inspiral Pendleton – are vying to win the contract.
Council leader John Merry said: "We expect to hear next week whether our business case has been approved.
"If it is, the next stage will be for final bids to be submitted by the two shortlisted consortiums."
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We live in hope... that it falls through. The area does need some work but not tearing the community apart just on the whim of an architect trying to make a name.
If some of the money was spent on bringing the dwelling up to date it would not cost as much.
Being PFI, the money will have to be paid back to the investors, plus interest. Where do the people of Pendleton think this money will come from?
Other PFI projects (http://www.guardian.co.uk/politics/pfi) has already been condemned as a poor value.
In reply to Councillor Drake's comments, it will be big news to me, as I, like many others will be getting thrown out of our homes.
Yes investment is needed in this area, no the community does not need to be ripped apart because some architect wants to make a name for himself.
PFI is not a good scheme, the money plus interest has to be paid back. This is going to saddle Pendleton and Salford with a mortgage for the next 20-30 years.
It will be the rent and rate payers that will foot this bill and could mean less money being available for the future.
This decision is long overdue and hopefully once we know when this work will start we can also look forward to a decision on our community pub - The Woolpack!!