Surrey County Council has formed a 15-year strategic joint venture with regeneration firm Places for People to develop residential schemes on disused sites.
The JV will unlock sites no longer required for service delivery by the council to deliver thousands of new homes, including affordable housing. The first new homes delivered by the joint venture are expected to be completed in 2019.
Places for People is participating in a number of public-private partnerships across the UK, such as working with Runnymede Borough Council to deliver a number of council-owned projects in the coming years including the redevelopment of Egham town centre.
Colin Kemp, Surrey County Council’s cabinet lead for place, said: “This first wave of developments is an example of how we want to deliver new homes throughout Surrey by working in partnership. In the coming years we’ll be working with boroughs and districts to understand the housing needs they face locally and assist them to deliver new homes for their residents.
“We want to help provide much-needed housing in Surrey, while also regenerating local areas, delivering improvements to boost economic growth and creating an income to reinvest in council services.”
David Cowans, group chief executive at Places for People, added: “We are delighted to have been selected by Surrey County Council as its long-term partner for this pioneering joint venture, which pools the resources and expertise of both partners.
“At a time when all of the public sector continues to face financial pressures, this is an innovative way of investing land and capital to deliver much-needed homes across the county, while also creating a strong investment portfolio for the council and delivering employment opportunities for local businesses and residents. We’re ready to roll our sleeves up and get delivering for Surrey.”