The 20 year partnership will deliver regeneration projects across the Little London, Beeston Hill and Holbeck areas of the city, including the refurbishment of 1,245 council homes and the construction of 388 new council homes to rent. A capital investment of more than £120 million will fund training and employment programmes.
The project is funded by the Department for Communities and Local Government under the PFI and includes a contribution by the Council. The Council said in a statement that it is the first PFI housing scheme of its kind with the private finance element being secured through the capital funding market markets through a bond issue.
Leeds City Council executive board member with responsibility for neighbourhoods, planning and support services Peter Gruen welcomed the agreement. He said that, alongside the project, the Council would invest £2.53m to bring 87 properties in the Beeston Hill area back into use as well as carry out improvements to local centre and education facilities in the Little London area.
