Rental homes of mid-range affordability, as well social rent affordability are in the mix of a new Public/Private Partnership (PPP) project in Dunbar, Scotland.
At affordablehousingaction.org, we feel positively betrayed. We’ve spent so long fraying our tempers at the seemingly inevitable PPP private poaching from the public purse.
And now this! An innovative funding scheme that doesn’t require a government subsidy for the mid range affordable housing! What is never given cannot easily be poached.
Worse! The properties will NOT revert to a private developer after 50 years, with the housing placed upon the free market and the profits in the developer’s pocket. Instead the East Lothian Council will buy them for a pound, a nice bit of capital acquisition towards which the the local council has never invested a penny.
The foundation of our prejudices towards PPPs has been shaken to the very core.
Read more about this fascinating, innovative financing scheme in Scottish Construction Now: Scotland’s First Affordable Rented Homes Built Without Government Subsidy Launched
