Integrate lands £37m to build new affordable homes in Wales
Integrate, a development consortium of which United Welsh is a part, has been awarded in excess of £37m to develop new affordable housing for the people of Wales.
The Social Housing Grant, awarded by the Welsh Assembly Government for 2009/2010, will result in the building of over 1,000 new homes including some major urban renewal and regeneration schemes in Swansea and Cardiff.
Tony Whittaker, Chief Executive from United Welsh said: “This is an exciting time for Integrate and we are looking forward to continuing our work with local authorities across Wales to meet the housing needs of local people. Being awarded a funding allocation of this size is testament to the successful work of the consortium and our commitment to deliver quality homes that people can afford to rent or buy.
“There is generally a shortage of good quality rented accommodation and with the current credit crunch it’s becoming more difficult for first-time buyers to get a foot on the property ladder. This development work is crucial to ensure that housing need is met and we are extremely confident of delivering the programme.”
The housing programme includes over 60 separate developments and equates to over 36% of the total funding allocation distributed to housing associations across Wales by the Welsh Assembly Government. The developments will include apartments and houses spread across eight local authority areas in South and West Wales. The programme will also include a number of extra care schemes providing specialist accommodation for older people.
In addition to the £37m social housing grant from the Assembly, the Integrate consortium members will also contribute in excess of £31m between them towards the housing programme.
Jocelyn Davies, Deputy Minister for Housing, said: “Affordable housing is a priority for the Welsh Assembly Government and our agenda for governance, the 'One Wales' document, sets out a commitment to deliver 6,500 units of affordable housing over the next four years. This was matched by a commitment to increase spending to £450 million over the lifetime of the administration.”
Housing will be provided to rent but also to buy through ‘Homes within Reach’, a low cost home ownership scheme that helps first-time buyers get a foot on the housing ladder. It works on an equity-shared basis with homebuyers having to purchase 51% - 70% of the property. ‘Homes within Reach’ has already helped many first-time buyers and this funding will ensure many more are helped in the future.
23rd April 2008
