The Welsh Government has made £24m available in loan funding to
unlock vital land for housing development and deliver more than
600 new homes across Wales.
This vital funding supports the acquisition of land for both
social and market housing developments. It helps ensure that
development opportunities are not missed, often providing support
before construction grant funding becomes available.
When construction funding is secured, the loan is repaid and
reinvested into new projects, creating a sustainable cycle of
housing development.
Wales & West Housing previously received £3m in loan funding
towards the acquisition of land in Grangetown, Cardiff. This was
followed by £10m in grant funding to develop 100 homes for
affordable social rent.
The Cabinet Secretary for Housing and Local Government, , recently visited the
development at Ffordd Yr Haearn, where she met tenants who moved
into their new homes following phased completion between
September 2021 and autumn 2022.
The site delivers a mix of accommodation, responding to the local
demand for family housing. It is also strategically located
near the city centre, with excellent access to local amenities
and services.
The Cabinet Secretary said: "I'm incredibly proud of how our Land
for Housing scheme is making a real difference to people's lives
across Wales.
"When we invest in schemes like this, we're not simply buying
land – we're investing in brighter futures for hundreds of
people.
"I was so pleased to meet the residents at Ffordd yr Haearn and
see firsthand how this funding has created not just houses, but
genuine communities where people can put down roots.”
“The scheme has also been instrumental in helping to build a
strong pipeline of land sites, many of which contribute to our
ambitious goal of 20,000 new low carbon social homes during this
Senedd term.”
Stuart Epps, Executive Director for Finance, Assets and
Development at Wales & West Housing, said; “Ffordd Yr Haearn
was the first scheme of affordable homes for rent where we
applied for loan funding under the Land for Housing scheme.
“At Ffordd Yr Haearn we've been able to provide 100 homes to
almost 350 residents, giving families a firm foundation to build
healthy, happy lives.
“At the time, in 2018, the loan allowed us to buy the site and
design our development to meet the needs of the Grangetown
community. One of the key things the community needed was safe
and secure family homes with gardens, for life. So, we have been
able to provide 52 houses with outdoor space as well as 48 flats.
“We've used this funding for a number of housing developments
across Wales in recent years. Having these loans from Welsh
Government is beneficial as it allows housing providers to buy
land, freeing up other money that we can invest in building and
planning more homes.”
ENDS
Notes to editors
The Land for Housing scheme is an All-Wales scheme that all
registered social landlords (RSLs) are eligible to apply
to: Land for Housing Loan
scheme [HTML] | GOV.WALES
15 loan applications have been granted through the £24m
investment to facilitate developments in Powys, Cardiff, Rhondda
Cynon Taff, Newport, Pembrokeshire, Caerphilly, Carmarthenshire,
Monmouthshire and Merthyr Tydfil. This is expected to deliver 628
housing units.
