The Minister for Housing and Regeneration,Julie James (pictured left), today visited one of Taff's current development projects; the former FA Jones DIY store on Penarth Road which is due to welcome its first residents in late summer 2019. She visted the site with Taff's development team & Taff's director of Business and Finance, Kate Innes (pictured right).
The site will provide 19 one and two bedroom flats, including two that are wheelchair accessible and a retail unit. Construction commenced in May 2017 and it was a pleasure to show the minister the progress that has taken place.
Whilst visiting the site, Julie James announced that Welsh Government has allocated a further £14.67 million in loans to social landlords to help them buy land to build more homes across Wales. The money comes from the Land for Housing scheme, which allows housing associations to borrow money to buy land to build on. The money is recycled as loans are repaid.
The FA Jones development project received a Land for Housing loan of £504,000 to enable Taff to purchase the site in May 2017. That loan has now been repaid and recycled into the funding for this financial year.
Of the new allocation by Welsh Government, the Minister added : ‘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, it’s reinvested in new projects and therefore delivers far more value than the £52 million we have invested to date. It is an excellent example of how we are working with registered social landlords to build homes and improve the lives of people in Wales.’
Elaine Ballard, chief executive of Taff Housing Association said: ‘This funding has helped us bring back to life an important site on Penarth Road, which is a gateway to Cardiff. There is always demand in these heartland areas, and future tenants will benefit from the strong community networks Taff is part of. In turn, these new residents will have the opportunity to get involved and strengthen this diverse and vibrant neighbourhood.’
For more information please visit Welsh Housing Quarterly.
We look forward to welcoming the first residents to the development scheme later this year.