North Tynesdide housing PFI reaches financial close

An example of sheltered housing. Photo: Janet Tench
An example of sheltered housing. Photo: Janet Tench

Work is due to begin within weeks on a £300M sheltered housing private finance initiative (PFI) in North Tyneside, following financial close being reached today.

 

A three way consortium of Miller Construction, Keepmoat and Equitix known as Solutions 4 North Tyneside will deliver more than 900 modern apartments for rent to the over 60s. This will provide around 500 construction jobs across 10 new and 16 refurbished sheltered housing schemes.

 

All the 26 schemes in the project will be completed over the next three years and Lovell Respond will be responsible for the long term maintenance.

 

Solutions 4 North Tyneside director, Phil Harris says: "We are delighted to have reached this key milestone working in partnership with North Tyneside Council in developing our solutions. Now we are looking forward to starting work on site and helping to make a real change to the lives of older people in North Tyneside."

 

The first phase will involve four new build schemes in Battle Hill, Seaton Burn, Howdon and Monkseaton.

 

There are also five refurbishment schemes at Backworth, Annitsford, North Shields, Forest Hall and Howdon.

 

The project will see the creation of communal spaces, where a range of services can be provided while a Knowledge Transfer Partnership with Northumbria University has ensured that the new and refurbished buildings are designed with sustainability and the health and wellbeing of tenants in mind.

 

North Tyneside elected Mayor Norma Redfearn said: “This is one of the biggest schemes in the country and will make a real difference for our older people by transforming and revitalising retirement living available for rent in North Tyneside.”

 

Cabinet Member for Housing, Councillor John Harrison added: “Now we have got sign off from the government, the money is in place, and planning permission is all in place. We can say to our residents - it's a reality and you are going to have the homes you deserve and have waited so patiently for.”

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