Housing association secures £10 min bank funding for building programme
A MAJOR housing association has secured over £10m to build new homes in Northern Ireland.
Habinteg Housing Association has said it plans to build hundreds of dwellings after borrowing from Ulster Bank.
It said it’s already building homes in Londonderry, Lisburn, Newry, Coalisland and Belfast, with another 200 planned to follow elsewhere.
Chief executive Darren Mckinney said: “The long-term financial arrangements between Habinteg and Ulster Bank help underpin our programme of development, which has widespread economic and social benefits.
“Ultimately it will allow us to provide new homes for some of the 37,000 people on the waiting list for social housing in Northern Ireland.”
Gordon Davidson, relationship director at Ulster Bank, said: “Habinteg’s development programme will create jobs, provide homes and improve local communities, so Ulster Bank is very pleased to support the association’s work.”
According to the Department for Communities’ housing bulletin for January to March, there were 1,699 new dwelling starts over the quarter — up 20.8% on the same quarter a year earlier.
However, there were 184 new starts in the social housing sector, down 13.6% on the same quarter a year earlier.
From left: Gordon Davidson of Ulster Bank with Habinteg’s Derek Johnston and Darren Mckinney