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Development finance allows £180m Leeds project to go ahead
Government approval has finally been given for a £180 million property development scheme in Leeds.
The plans – which will see two of the most deprived inner city neighbourhoods in Leeds transformed – have been awaiting approval for some time under the Government Value for Money review.
Now, it has been confirmed that the Little London and Beeston Hill/Holbeck areas will be revitalised using development finance under the housing Private Finance Initiative (PFI) project.
Leeds City Council has given the green light for Sustainable Communities for Leeds (sc4L) to carry out the much-needed redevelopment work, which will see 388 new council homes being built, alongside environmental improvements and the refurbishment of more than 1,200 existing council houses. Work on the major development is expected to begin in the spring of next year.
Leeds City Council leader, Councillor Keith Wakefield, said that the project was ‘massive’ for the city, representing a substantial investment in two of the most deprived areas. “We always had faith that this was a very strong project,” he said.
Leeds City Council’s executive member for housing and regeneration, Councillor Peter Gruen, told the Yorkshire Evening Post, “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.
“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,” added Mr Gruen.
