Keepmoat’s sustainable communities for Leeds (sc4L) consortium has secured a contract from Leeds City Council in the UK to deliver a £120m regeneration project in the inner city of Leeds.
The sc4L consortium comprises Cyril Sweett Investments, Keepmoat Investments and Lloyds Bank Corporate Markets.
The council and sc4L signed a 20-year Private Finance Initiative (PFI), which will see the consortium renovate local communities across the Little London, Beeston Hill and Holbeck areas of the city.
Under the contract, the consortium will also refurbish 1,245 council homes and construct 388 new homes to rent with environmental improvements to the estates.
The new homes will be built according to the code level 4 for Sustainable Homes for security and space standards.
The project is being funded by the Department for Communities and local government under the PFI.
Leeds City Council executive board member responsible for neighbourhoods, planning and support services Peter Gruen said the council has worked hard with its partners over many years to move the project along at various stages.
"In addition, and as promised, alongside the PFI project, the council will invest £2.53m to bring 87 properties in the Beeston Hill area back into use. Along with this, the Little London local centre and education facilities in the area will be improved in the next few years to address some of the neighbourhood’s needs," Gruen said.
Earlier in 2013, a consortium comprising Keepmoat, Miller Construction and Equitix was selected as the preferred bidder for North Tyneside’s £300m Quality Homes for Older People PFI project in the UK.