Work starts on £77m social housing PFI project

Published by Ross Macmillan for 24dash.com in Local Government and also in Housing

Construction work has started on a £77 million Private Finance Initiative (PFI) project in west Wiltshire.

The scheme will deliver a total of 350 homes for affordable rent which will be managed by housing association Aster Communities.

The project - a partnership between Wiltshire Council, Silbury Housing Limited and Persimmon Homes - will deliver a mixture of one, two, three and four-bedroom houses, flats and bungalows.

The PFI is one of 13 the Government has continued to support following a value for money review that took place in November 2010.

Ian Graham, partner and leading expert on housing projects at law firm Trowers & Hamlins, said: “We are delighted to have completed this deal which will bring significant new investment into Wiltshire's social housing stock. 

“The project has survived the comprehensive spending review, value for money assessments and general spending cuts which is excellent news for the communities who will benefit from this much-needed new housing.”

The first properties are expected to be completed by summer.