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Places for People named in £300m Aberdeen deal
A housing association has been named as Aberdeen City Council’s partner to build up to 3,000 homes in the city in a £300m partnership.
Places for People (PfP) will take a 50% share in a Limited Liability Partnership (LLP) with the council to build, own and manage homes across eight sites in the city.
The partnership will share equally any development profits. PfP was named as preferred bidder for the scheme in October, and confirmed yesterday. The partnership will build 2,000 homes, and hopes to deliver 1,000 more, without any government funding.
These will include 1,000 new homes for social and midmarket rent and 1,000 new homes for private sale. The deal is the first time a Scottish local authority has created a 50/50 partnership with a developer which creates both affordable housing and homes for private sale.
David Cowans, group chief executive at Places for People, described the deal as “transformational”.
Jenny Laing, leader of Aberdeen Council, said: “These thousands of new homes will help to address a shortage of housing in Aberdeen.”
