30/06/2016

NI Housing Association Reveals Plans To Develop 2,500 Social Homes

A housing association in Northern Ireland has revealed plans to develop 2,500 homes over the next eight years.

Clanmil Housing Group made the announcement after it secured a £135 million finance agreement with three lenders.

Clanmil confirmed loans from Danske Bank (£60m), First Trust (£50m) and Ulster Bank (£25m).

It will enable Clanmil to access grants from the Department for Communities, combining public and private funding to create a total investment of around £315m.

Around 500 construction jobs are expected to be created and it is to support more than 400 associated jobs in the supply chain.
News Image
Steve Amos, Chair of Clanmil Housing said: "It is good to see banks investing with confidence in large social programmes like ours and we’ve worked smartly to secure a mix of funding that will yield a range of positive results, including jobs and homes, over the next decade. The deals represent good business for Clanmil and also for the public purse, making the public money available for new homes go much further.

"We are particularly excited to make this announcement so soon after the £280 million EIB deal secured by our colleague housing associations Choice and Apex. Together these investments demonstrate that in addition to our social contribution, the social housing sector in Northern Ireland is playing an important role in bolstering and growing our economy."

Minister for Communities Paul Givan MLA said: "I am once again pleased to be able to congratulate another housing association in obtaining a significant financial package, which along with investment from my Department, will assist in delivering much needed social housing in Northern Ireland and contribute to the local community through the creation of employment opportunities.

"This announcement is another clear statement that both the Executive and local housing associations are determined to deliver high quality, energy efficient homes for those in greatest need across Northern Ireland."

(CD)

Related Northern Ireland News Stories
Click here for the latest headlines.

14 December 2009
Brewery To Become New Homes
A new £25m housing scheme has been approved for the old Bass Brewery in west Belfast. Some 166 new homes will be built in what is being billed as one of the largest social housing schemes undertaken in Northern Ireland. It will also create much needed employment - with some 200 on-site jobs boosting the beleaguered construction industry.
06 August 2015
Crumlin Social Housing Scheme Opened
A new social housing scheme of three and four bedroom houses has been officially opened in Crumlin. The fourteen new homes for families on the social housing waiting list, is owned and managed by Habinteg Housing Association who funded the build, with support from the Department for Social Development.
26 November 2021
People Urged To 'Paws For Thought' Before Buying A Puppy
People looking for a pet dog have been urged to "paws for thought" before making a purchase to make sure the seller is legitimate.
26 November 2021
Health Minister Urges People To Be 'Mouth Aware'
Health Minister Robin Swann has urged people to be "mouth aware" and check for signs of mouth cancer. Marking Mouth Cancer Awareness Month, Minister Swann visited Dunmurry Dental Practice, where he praised the vital work of dental professionals in checking for signs and symptoms of mouth cancer.
14 March 2014
Housing Scheme Creates 100 Homes
A £11.5m housing scheme to deliver about one hundred new homes for Newtownabbey, County Antrim, is currently going ahead. Social Development Minister Nelson McCausland visited the new family housing scheme at Mill Road this morning.