from Barking & Dagenham Post

John Phillips

Nearly 500 new homes will be allocated to people on council waiting lists under a groundbreaking Private Finance Initiative in Barking.

The £76 million project will help tackle the borough's housing shortage, where 12,800 people are waiting for a council home...

The three-year project, delivered entirely through private funds, is thought to be the first in the UK.

Barking MP Margaret Hodge has given her backing to the scheme, she said: "We need more new homes, decent homes to rent at levels that can be afforded by ordinary and hard-working families.

"This is just what is being delivered by this project.  The 500 new homes are a very welcome addition to the number of affordable homes here in Barking and will help to house residents who have been waiting patiently on the housing register...."

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