Funding secured for 130 new affordable homes in Stirling
Forth Housing Association (FHA) has announced a £13 million, three-year plan to build 130 new homes, with support from the Scottish Government and the Bank of Scotland.
The homes will be built at sites across Stirling in a move to address the need for high-quality, affordable social housing in the area and improve living accommodation for families and vulnerable people in the community.
The project has been funded by an £8m grant from the Scottish Government and a £4m loan from Bank of Scotland, with the balance coming from FHA and Stirling Council.
Plans are well in hand for the developments, which include:
Building work will be completed in phases, with workers already on site on some projects, while others will not begin until 2018.
FHA currently owns and manages 800 homes in the Stirling area.
Margaret Turner, chairperson of Forth Housing Association, said: “This is all part of our effort to support the Scottish Government in delivering its target of building 35,000 new affordable homes over the next five years.
“Getting on the housing ladder remains a big challenge in this area as house prices and rents continue to rise, so there is a considerable demand for social housing locally.
“This funding will help to address that need, providing local people with the kind of high-quality, affordable homes that they deserve.”
Contractors Cruden Homes (East), Robertson Group and JB Bennett will build the homes.
Douglas Spowart, relationship director, social housing & commercial real estate, Bank of Scotland Commercial, said: “We’re proud to be able to support Forth Housing Association, which is developing and delivering solutions to the housing pressures that are being felt particularly keenly in Stirling.
“This funding helps to address a real need and will provide a range of high-quality homes that will suit residents with different needs.
“We remain one of the biggest lenders to the UK social housing sector and are committed to helping Britain prosper by supporting organisations like FHA, which make a vital contribution to the city’s housing market.”