A £28m housing deal set up to relieve housing demand and redevelop vacant properties within Derby has now been completed and is having a positive impact on the local communities.

The Derby Private Financial Initiative (PFI) contract, which was signed by leading UK housing association Riverside and Derby City Council in September 2012, was to provide a total of 170 additional affordable homes within the city.

A wonderful example of how we can transform lives and revitalise communities.

Riverside Chief Executive Carol Matthews said: “We are delighted to have completed on the Derby PFI contract. Working in partnership with Derby City Council has been crucial to this project, which has already seen a hugely positive impact on the areas of regeneration, in particular Spondon, Alvaston and Chaddesden. The 104 new homes across 3 sites, and 66 redeveloped homes from the open market, are a wonderful example of how we can transform lives and revitalise communities.”

The partnership contract, that is for a fixed term of 30 years, provided 104 new-build homes in 2014. The final phase to bring a further 66 vacant properties back into use has now been completed. The homes, a mix of two, three and four bedroom properties, have been purchased from the open market and have undergone a programme of improvement works.  

Cllr Fareed Hussain, Cabinet Member for Urban Renewal, at Derby City Council said: “With this progressive partnership, we are able to fulfil our promise to local people to create much needed housing and regeneration across the city. In recognition of the local and wider community’s needs, the project has gone beyond bricks and mortar with the Council and Riverside being able to support the development of a community allotment in Spondon. The quality of homes developed are to an exceptional standard and we are pleased to say that the tenants are providing very positive feedback”.

This work finalises the contractual requirement for a total of 170 additional affordable homes within the PFI contract, which will benefit the lives and wellbeing of many local people in Derby.

For more information about the Derby PFI development visit the casestudy.