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£20 million to help Welsh housing associations
The Welsh Government has announced more than £20 million through the Land for Housing scheme to help housing associations buy land to build more homes across Wales.
Julie James, the Minister for Housing and Local Government, made the announcement whilst visiting new homes built through the programme on the Herbert Road development in Newport, a Pobl Group project. The site will continue to be transformed over the next four years, delivering 215 new homes in total.
The Land for Housing scheme provides loan funding to housing associations to enable them to buy land to develop affordable and market housing. The funding is recycled as loans are repaid, so that more land can be purchased and more homes built.
The Welsh Government is investing an extra £10 million in 2019/20, together with recycled funds from the repayment of previous loan awards.
James said: “Housing is about so much more than bricks and mortar. It’s vital that everyone in Wales has access to safe, affordable housing so they can achieve their full potential. We have committed to creating 20,000 affordable homes during the course of this government, and the Land for Housing Scheme is just one of ways we are investing in achieving this.
“As this is a loan scheme, when the money is repaid, we are reinvesting in new projects to deliver far more value than the £52 million invested to-date. It is an excellent example of how we are working with housing associations to build homes and improve the lives of people in Wales. I’m pleased to have seen these homes today, which support people with different needs – and I look forward to the new Herbert Road development taking shape.”
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