PFI scheme for 1,600 Salford homes approved

A PROJECT which will see more than 1,600 new homes created in the Salford borough of Pendleton has been approved by the Government.

Since the October public spending review, all housing private finance initiative (PFI) schemes nationwide have been frozen to face further scrutiny by the Homes and Communities Agency.

However, Housing Minister Grant Shapps yesterday signed off the next stage of a £115m investment programme for Pendleton after being reassured it will provide value-for-money improvements.

The plan involves the redevelopment of a massive area of Pendleton, which will be a mix of new homes and refurbishments to 1,200 existing properties. The council now needs to put a further business case to Government which, if approved, will lead to a preferred bidder being appointed to carry out the work within the next few months.

Cllr Peter Connor, Salford City Council’s lead member for housing, said: “Our plan for Pendleton will give residents a better choice of affordable housing and we’re pleased the Government supports us in what we’re trying to achieve.

“There is still lots to do but this news allows us to move to the next stage, which is to submit further plans to the Government so we can move to financial close and start work.”

Leader of Salford City Council, Cllr John Merry, said: “This review compared many PFI projects so for the Government to choose to support us shows our plans are very well thought out and good value for money for the people of Salford.”