THFC GREENER SOCIAL HOUSING - ALLOCATIONS UNDER FL

Promoter – Financial Intermediary

The Housing Finance Corporation Ltd

Location

• United Kingdom

Description

Large housing schemes (capex between EUR 50 and 80m) in Bicester and Barnet, UK, under the Framework Loan THFC GREENER SOCIAL HOUSING.

Objectives

The two large schemes are the Northwest Bicester eco development in Oxfordshire (one of the UK's first designated four eco towns) and an urban regeneration scheme in Barnet, London. The EIB funding will support highly energy efficient new build social housing for rent to be undertaken by a regulated social housing provider (A2dominion). The two schemes satisfy the EIB's eligibility criteria for urban renewal and sustainable cities and communities. The newly built social housing to be funded will meet the national Code for Sustainable Homes standard levels 4 (Barnet) and 5 (Bicester).

Comments

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

GBP 50 million (EUR 59 million)

Total cost (Approximate amount)

GBP 124 million (EUR 145 million)

Environmental aspects

Significant positive net environmental, social and economic externalities are expected to result from implementing the two high energy efficient housing schemes in Oxfordshire and London under this sector Framework Loan. They will provide high energy efficient housing to expand the social housing stock in England, aimed at creating integrated, sustainable communities and bringing back into use an urban brownfield site.

Procurement

The final beneficiary A2dominion is a registered social housing provider falling under public procurement. Under the Framework Loan, final beneficiaries are required to ensure that contracts for the implementation of the projects have been/shall be tendered in accordance with the relevant applicable EU procurement legislation with publication of tender notices in the EU Official Journal, as and where appropriate.

Status

Approved - 28/06/2013