North Wales Housing accepts £20m funding
The Welsh housing association secured the backing from lender Principality Commercial to support its ambitions to create 500 affordable homes by 2027.
North Wales Housing is based in Llandudno and has a portfolio of 2,700 properties across Anglesey, Conwy, Denbighshire, Flintshire, and Wrexham.
Wrexham’s The Poppies development at Watts Dyke is a key project enabled by the £20m funding.
At The Poppies, North Wales Housing has acquired 59 originally open market sale homes at the site to offer as social rented and affordable properties.
This acquisition was also supported by the Welsh government’s Transitional Accommodation Capital Programme and a £10m social housing grant from Wrexham County Council.
Helena Kirk, chief executive of North Wales Housing, said: “We’re delighted to be working with Principality Commercial to deliver much-needed affordable homes across North Wales.
“This funding enables us to move forward with key developments like The Poppies in Wrexham, helping us to provide high-quality, energy-efficient homes for local people at a time of real housing need.”
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Sarah Lavender, senior relationship manager at Principality Commercial, said: “We are very pleased to have the opportunity to strengthen our relationship with North Wales Housing Association.
“As a mutual business, contributing to the development of much-needed affordable housing and making more [homes] possible within the communities we serve is something that aligns with our purpose as an organisation.
“We look forward to continuing this partnership and working to support a fairer society.”
The housing association expects to build 500 homes under its 2024-2027 corporate plan.
