UK's 'First Privately Funded Social Housing Scheme’ Set To Be Repeated

A social housing scheme built entirely with private funding has “attracted direct interest from the sector”, according to the investor.  The London borough of Barking and Dagenham has secured private funding to build 477 homes for people on its waiting list. Homes will be let at rents between 50 and 80 percent of the market rent. In what is claimed to be the “first totally privately funded affordable social housing scheme anywhere in the UK”, the council has secured funding from asset developer Long Harbour.  The investor said the scheme had generated interest from the sector and was likely to be repeated in the future.  Read more on 24dash.