Caledonia Housing Association commits £75m to build 500 new homes
Caledonia Housing Association has confirmed a £40 million spend on seven current housing projects in Scotland with a further £35m earmarked for nine future developments, including a continued expansion in the Highlands.
In total, Caledonia is on target to deliver 500 homes, the majority for social rent, by mid-2022.
A total of 271 homes are currently under construction on sites from Inverness, through Tayside and within West Dunbartonshire.
The first completed development is expected to be handed back to Caledonia from contractors this autumn. Some of the homes at Monarch’s Rise in Arbroath are available to buyers who meet specific criteria to qualify for the Scottish Government New Supply Shared Equity scheme. The initiative offers people who are unable to afford open market housing the opportunity to buy their own home at an affordable price.
Andrew Kilpatrick, development director at Caledonia Housing Association, said: “Like other developers, our plans for 2020 were interrupted by the pandemic but it is now full steam ahead. We are much encouraged by the speed of the upturn. Everyone we are working with - local authorities, private housebuilders and sub-contractors - is doing their utmost to help and we hope that the construction of these new affordable homes and the resultant creation of jobs will help kick start Scotland’s economic recovery as quickly as possible.”
A further 233 homes on nine different sites are also in the pipeline for Caledonia where land has already been purchased or negotiations are ongoing.
Of particular note is a development at Milton of Leys, in South Inverness – continuing the Association’s expansion in the city - with the support of Highland Council to build 21 homes for social rent as part of a wider development by Tulloch Homes. This contract is expected to be signed by the end of September.