Minister for Housing and Local Government Julie James has announced more than £20 million through the Land for Housing scheme to help housing associations buy land to build more homes across Wales.
The minister visited new homes built through the programme on the Herbert Road development in Newport, a Pobl Group project.
20 homes have already been built on the former industrial site on the banks of the River Usk, and the site will continue to be transformed over the next 4 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.
Housing and Local Government Minister Julie 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.
Neil Barber from Not for Profit Developer Pobl Group said:
The Land for Housing Scheme is a great example of Welsh Government innovation in delivering much needed new affordable homes. This funding has enabled Pobl customers to buy or rent one of 20 beautiful new homes at Herbert Rd, with many more to follow.