There are actually two groups looking to re-open Panshanger aerodrome - I think that the other group to the one posted above is probably in the lead having proposed to the Council Panshanger Aerodrome Eco village, which has the backing of the land owner (Mariposa) and includes all of the housing required in the local plan.
As I understand it they will purchase the land with developers on board, with the housing alongside the runway having hangers, the housing will fund the multi million pound realignment and facilites.
Fingers crossed