On 16th April 2007 the contract documents were signed for the Stanhope Private Finance Initiative (PFI).

Denne, who are founder members of the successful Chrysalis Consortium which includes Gleeson Homes, Moat Housing, Nationwide and Powerminster, have been involved with the project for more than 18 months.

The scheme includes refurbishing 325 houses to Decent Homes Standards with new external works, playgrounds, footpaths and landscaping. In addition 442 new homes, three commercial units and a community building with accommodation for a library and a housing office will be provided across ten separate sites.

The overall contract value for Denne is more than £66million, with refurbishment works due to be completed in 36 months and the new build development site in 60 months.