ARBOUR Housing is set to create 270 new social and affordable homes across the north as part of a £40 million investment project.
Formerly known as the South Ulster Housing Association, Arbour owns and manages over 1,200 homes, largely centred around Portadown, Lurgan and Newry.
The association said a £20m finance facility from Danske Bank will enable it to access housing development grants from the Department for Communities, combining public and private funding to create a total investment in new homes of some £40m.
Plans for new homes includes 98 social houses in a development on the Buncrana Road in Derry.
Arbour said the latest data from the Northern Ireland Housing Executive showed a waiting list of over 2,000 applicants for housing in the Westbank area of Derry, in which the Buncrana Road scheme is located.
Kieran Matthews, chief executive of the housing association said £7.5m will be invested in the Buncrana Road scheme.
“Provision of this new, high quality housing stock will help meet the high demand for social housing in the area, he said.
“The scheme features a wide range of one to four bed properties, which will be suitable for a range of families.
“Our vision at Arbour Housing is to support local communities and improve people’s lives. To do this, we must increase the number of affordable homes around Northern Ireland, which is why this new development plan, supported by a financial package from Danske Bank, is needed.”
Arbour Housing has entered into a design and build agreement with Derry-based developer EHA Group to deliver the Buncrana Road scheme.
Jordan Allingham, director of EHA, said: “It is evident that the Derry city area has been underserved in recent years when it comes to quality and affordable housing needs.
“EHA are delighted to be part of the bigger picture by working in partnership with Arbour to alleviate these demands by providing a mix of 98 high quality homes and apartments on the Buncrana Road.”
Commenting on the £20m facility, Danske Bank corporate manager, Paul Herbison said: “The demand for affordable housing remains high across Northern Ireland and Danske Bank is delighted to be providing support for Arbour Housing as it rolls out its new development programme.
"The company is aiming to deliver high-quality, affordable homes to communities in a number of different areas, including the north west, and we look forward to watching the developments progress over the coming months.”
