PRP as part of the consortium, Solutions for North Tyneside, has been named as preferred bidder to deliver North Tyneside's 'Quality Homes for Older People' PFI project.
The consortium which is lead by Equitix, Miller Construction and Keepmoat, covers 26 sites in the North Tyneside area including 16 remodelled existing schemes and 10 new build Extra Care and sheltered housing schemes.
The schemes all have to be submitted for planning by May 2013 and are due for financial close by September 2013. The consortium was formed in 2008 making this a landmark decision for all involved.
Jenny Buterchi, Director of PRP, comments: "It is very exciting to be involved in one of the largest Older People’s Housing projects in the area. We are delighted to have won and will draw on our extensive experience in designing homes for the elderly."
It is expected work will start on site in September and all the schemes will be completed by Autumn 2016.