The deal will see the two organisations fund and construct the first council homes in the area for 30 years.
Both affordable and private housing for rent will be delivered under the scheme.
Funding for the development has been raised through Enfield Innovations Limited, a newly-formed company owned by the local authority, which allows the Council to retain the private rental properties.
Seven sites have been included in the plans; six of which were originally council-owned bedsits which were designated as no longer fit for purpose. The final site was a disused garage.
A total of 94 homes, comprising of 37 affordable homes – 20 social for rent and 17 for shared ownership – and 57 private rented homes, will be constructed. The sites have been cleared and are currently being prepared to allow construction work to begin. A mix of one-, two-, three- and four-bedroom properties, all within three miles of the town centre, will be delivered.
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Kier has said construction work is expected to commence on the first two sites in December, and to speed up construction and reduce disruption to local residents, an off-site construction method will be used. This will also ensure the homes are more environmentally friendly and meet a high level of the Code for Sustainable Homes.
Phillippa Prongue, Kier Property Director, said: "We are delighted to be working with Enfield Council to deliver improved housing in the area. This is a highly innovative risk-sharing partnership agreement between the council and Kier Property to finance and build new housing, and we expect to see similarly bold initiatives from other local authorities as they look to follow Enfield's lead in addressing the shortage of housing."
Councillor Ahmet Oykener, Enfield Council's cabinet member for housing and estate regeneration, added: "This approach is helping us to deal with an urgent need for quality housing for local people. The appointment of Kier Property as our chosen development partner to complete the small housing sites project ensures that we produce good council-owned property for the families that need it."
(JP/IT)
