Magazine article Public Finance

Developers Take Fresh Interest in Housing PFIs

Magazine article Public Finance

Developers Take Fresh Interest in Housing PFIs

Article excerpt

Lenders and developers are showing renewed interest in housing schemes funded through the Private Finance Initiative, a leading civil servant said this week.

After watching some pathfinder schemes finally get under way after lengthy delays, more firms were keen to become involved, according to Ellie Simcox, housing PFI team leader at the Office of the Deputy Prime Minister.

'The market is more confident of a flow of schemes coming through in the next few years,' she told a Capita conference in London on January 31.

Thirty-six housing PFI schemes have been approved by the ODPM, although just ten local authorities have signed contracts. Some pathfinder schemes took five years to finalise due to procurement problems.

The increasing interest by lenders and developers follows a government decision to allow the PFI to be used for new house building, including the demolition and reconstruction of homes, as well as refurbishment. …

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