ONE of Northern Ireland’s leading social landlords Clanmil Housing Group has confirmed a £135 million finance agreement with three major local lenders.
And the package will underpin plans to build 2,500 new social homes over the next eight years as well as modernising some existing homes.
The loans from Danske Bank (£60m), First Trust (£50m) and Ulster Bank (£25m), all on attractive terms, and will enable Clanmil to access grants from the Department for Communities, combining public and private funding to create a total investment of some £315m.
The investment is expected to generate up to 500 construction jobs and support more than 400 associated jobs in the supply chain.
Steve Amos, chairman of Clanmil Housing said: “Deals of this volume and with three lenders represent a strong vote of confidence in the social housing sector and our ability to deliver on ambitious targets.
"It will allow Clanmil to continue our programme of development, helping reduce the housing waiting list by building high quality homes in areas where they are needed most and strengthening those communities by creating great places to live."
He added: “It's good to see banks investing with confidence in large social programmes like ours and we’ve worked smartly to secure a mix of funding that will yield a range of positive results, including jobs and homes, over the next decade.
“We are particularly excited to make this announcement so soon after the £280 million EIB deal secured by our colleague housing associations Choice and Apex.
"Together these investments demonstrate that in addition to our social contribution, the social housing sector in Northern Ireland is playing an important role in bolstering and growing our economy.”
Minister for Communities Paul Givan said: “This is another clear statement that both the Executive and local housing associations are determined to deliver high quality, energy efficient homes for those in greatest need across Northern Ireland.”
