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PFI deal to build extra care homes in Hull
An £80m private finance initiative (PFI) deal to build 316 extra care apartments in Hull has been signed.
The Hull Extra Care Housing PFI Project will be managed by the Riverside Group’s subsidiary Riverside Care and Support Limited.
Wates Construction will build the project, which is designed to enable residents to live an independent life in a socially supportive environment, across three sites in Hull.
Work will begin early in the new year, with completion expected in December 2016.
The scheme was procured by Hull City Council with PFI credits from the Department of health and Aviva providing senior debt.
Dave Poulter, project director at Wates, said: ‘We are extremely pleased to have reached this important milestone.’
Wates was advised by law firm Squire Patton Boggs.
