The £180 million Housing PFI Project to revitalise the neighbourhoods of Little London, Beeston Hill and Holbeck has been subject to a government 'Value for Money' review in recent months. However, the Treasury has now given the go-ahead for the scheme, enabling the council to appoint their "preferred bidder" to carry out the work.
The regeneration consortium Sustainable Communities for Leeds (sc4L) has come out on top in its bid to carry out the work on this major housing regeneration project. The PFI consortium comprises Cyril Sweett Investments Ltd, Keepmoat Investments Ltd and Lloyds Bank Corporate Markets.
Leeds Council will now work with sc4L to finalise its proposals for this major scheme, which includes 388 new council properties, the refurbishment of more than 1,200 existing council homes as well as environmental improvements. It is expected that the Government will give the go-ahead to sign the contract early in the New Year, enabling work to start on site in Spring 2012.
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The HCA has been working with Leeds City council to ensure that the bid meets the criteria required to be eligible for PFI funding.
Cllr Keith Wakefield, Leader of Leeds City Council, said: "This is a massive project for the city, representing investment of £180m in deprived inner city areas, so it is a huge relief that the government have finally given us the go ahead. We always had faith that this was a very strong project, which has made the hold ups all the more difficult to accept.
"It is tremendous that we are now in a position to move forward. Hopefully this will bring an end to the uncertainty for the communities involved. We had hoped to start work this summer, so everyone connected with this scheme can’t wait to get started. Hopefully over the next few months people living nearby should start to see things happening on site."
Cllr Peter Gruen,Deputy Leader of Leeds City Council and executive board member for neighbourhoods, housing and regeneration, said: "This is an exciting moment and is the result of years of dedicated work by many people to get us to this stage. The delays in achieving final government approval for this project have been incredibly frustrating for us all, not least the residents of Little London, Beeston Hill and Holbeck. These hold ups have also been very costly, but it is great to finally have some certainty that enables us to get on and make things happen.
"This is a huge landmark on a project set to transform these communities as well as provide opportunities for jobs and further investment in key regeneration areas."
The 20 year Housing PFI contract also includes a repairs and maintenance service for new build and refurbished council homes and estate areas within the project areas.
The consortium's plans will help create sustainable communities in Little London and Beeston Hill & Holbeck. Designs for the new council homes and refurbishment schemes will meet high standards of energy efficiency and estate areas will be improved including better outdoors areas, and walking and cycling routes.
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