propertytalk Live! - New model could deliver 1,500 new homes
Birmingham City Council’s Cabinet is set to give the green light to the full business case for the development of a Private Rented Sector Initiative (PRSI).
This would see the council to enter into a joint venture with private sector partners, with the potential to deliver up to 1,500 new homes over the next 3-5 years.
The PRSI aims to provide private and intermediate rented homes on both private and public sector land. This project will complement existing approaches such as Birmingham Municipal Housing Trust to facilitate the development of new homes of mixed tenure despite the challenging conditions of the current housing market
This initiative seeks to bring together public and private sector land with significant equity investment from private sector partners to create a vehicle to develop large numbers of new homes which will make a significant contribution towards meeting the city’s housing growth targets.
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