01/04/2014
1,600 Homes Announced In £180m Deal
£180m is to be spent on the construction of 1,600 social homes as part of a finance deal secured by Clanmil Housing Group.
The deal, the largest-ever of its kind in Northern Ireland, secures loans of £75m from Danske Bank and £45m from Barclays. £100m of this finance will be invested in building new social homes and the remainder used to refinance existing loan facilities.
The funding will enable Clanmil to access up to £80m in statutory funding from the Department for Social Development. It is thought that the properties will house up to 5,000 people.
The investment is expected to generate almost 600 construction jobs over four-years and support more than 400 associated jobs in the supply chain.
Social Development Minister Nelson McCausland said: "This funding will help provide an additional 1,600 social homes throughout Northern Ireland and will be welcomed by prospective tenants and the building industry. The next three years of the Social Housing Development Programme will see housing associations significantly step up output to deliver 2,000 new homes each year. Clanmil will play a key role in achieving these targets and this £120 million loan will be invaluable in partnering match funding from my Department to allow these ambitious targets to be met."
(IT)
The deal, the largest-ever of its kind in Northern Ireland, secures loans of £75m from Danske Bank and £45m from Barclays. £100m of this finance will be invested in building new social homes and the remainder used to refinance existing loan facilities.
The funding will enable Clanmil to access up to £80m in statutory funding from the Department for Social Development. It is thought that the properties will house up to 5,000 people.
The investment is expected to generate almost 600 construction jobs over four-years and support more than 400 associated jobs in the supply chain.
Social Development Minister Nelson McCausland said: "This funding will help provide an additional 1,600 social homes throughout Northern Ireland and will be welcomed by prospective tenants and the building industry. The next three years of the Social Housing Development Programme will see housing associations significantly step up output to deliver 2,000 new homes each year. Clanmil will play a key role in achieving these targets and this £120 million loan will be invaluable in partnering match funding from my Department to allow these ambitious targets to be met."
(IT)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.