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£2bn council and developer joint venture to deliver up to 500 homes
A £2bn joint venture has been announced between Hertfordshire County Council and Morgan Sindall Investments Limited (MSIL) to build up to 500 homes.
The development scheme will be delivered by the council’s property company Herts Living and MSIL subsidiary Community Solutions for Regeneration (Hertfordshire), providing up to 500 homes across Hertfordshire over 15 years.
Lisa Scenna, managing director of Morgan Sindall Investments, said: “We understand how important the development of new housing is for Hertfordshire and are excited to have the opportunity to work with Herts Living in fulfilling the council’s vision. This joint venture approach will ensure we can work closely to deliver high-quality, sustainable development at pace and respond to the changing needs of Hertfordshire’s residents over time.”
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A spokesperson for MSIL said the venture has the potential to deliver schemes under the government’s One Public Estate initiative on behalf of other public authorities.
Inside Housing asked what the tenure mix of the 500 homes will be. A spokesperson from Hertfordshire County Council said: “Although we are considering a variety of options, the development will mainly be focused on private housing.”
Steve Faber, managing director of Herts Living, said: “We are delighted to be working with Morgan Sindall Investments to deliver new, high-quality, sustainable houses that will help the county to meet the needs of its growing population, reduce the housing shortage and provide much-needed social housing and community assets.”
