Principality Building Society has provided £10m worth of funding to three development sites across South Wales. Developed by Taff Housing Association, the sites situated in Cardiff, Radyr and St Mellons will provide over 170 residents with affordable, modern housing.
The development sites located on Penarth Road in Cardiff, De Clare’s Road in Radyr and The Droke in St Mellons, will ensure that over 70 high quality and spacious homes will be made available for local communities. The Penarth Road development is near completion, whilst the Radyr and St Mellons developments are expected to complete by 2020.
This funding forms part of the Building Society’s £50m 15 year fund, which has been made available to housing associations across Wales at competitive rates.
Jan Quarrington, Social Housing Manager at Principality Building Society:
“We are really pleased to be working closely with Taff who have progressed exciting development programmes in communities very familiar to us. The additional housing enabled by this partnership will help to provide badly needed, affordable homes in Cardiff.”
Kate Innes, Executive Director Finance and Business at Taff Housing Association:
“We are delighted to have forged a relationship with a Welsh based lender whose ethos of investing in our core communities mirrors our own. We look forward to a longstanding partnership.”
The demand for the 15 year fund for housing associations is ever increasing, with Principality Building Society considering extending the funding available. The fund demonstrates the Building Society’s commitment to providing affordable housing for communities across Wales and the borders.