Social housing gets boost in Stirling after funding deal
● Forth Housing Association project covers 130 homes ● Includes funding from FHA and Bank of Scotland
Stirling is set for a social housing boost after Forth Housing Association (FHA) unveiled a £13 million, three-year plan to build scores of new homes.
The project is being 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.
In total, some 130 properties will be built at sites across the city 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. FHA currently owns and manages some 800 homes in and around Stirling.
Margaret Turner, the association’s chairperson, 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.”
The developments will comprise 76 one, two and three-bed semi-detached and terraced houses and flats throughout Raploch, 23 one, two and three-bed flats and terraced houses at Johnstone Avenue, Cornton, and 35 two and three-bed flats and terraced houses in Cultenhove.
Building work will be completed in phases, with workers already on site on some projects, while others will not begin until next year.
Contractors Cruden Homes (East) of Edinburgh, Robertson Group in Stirling, and JB Bennett of Kilsyth will build the homes.
Douglas Spowart, relationship director, social housing and 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.”
He added: “We remain one of the biggest lenders to the UK social housing sector and are committed to helping Britain prosper by supporting organisations like Forth Housing Association, which make a vital contribution to the city’s housing market.”