Regeneration scheme's plan wins approval
A housing regeneration scheme to reshape a south London estate has had its business plan approved by the Office of the Deputy Prime Minister.
Lambeth Council's private finance initiative to refurbish and rebuild the Myatts Field North estate in Kennington, worth at least £100 million, is now being scrutinised by Partnerships UK ahead of being passed to the interdepartmental project review group. The group will meet to make a final decision on the project on 21 March.
Interim deputy director of housing Mary Lynch told Inside Housing the council was confident of getting the project signed off. 'At the moment we have been getting positive feedback from the ODPM,' she said.
Lambeth had also had significant interest from the market, she said.
The council had to have its plan approved for a second time after tenants complained about not being consulted (Inside Housing, 5 August).