£30m funding deal unlocks Southside HA ‘urban villas’
March 5 2019
Southside Housing Association has struck a £30m credit agreement with Handelsbanken to support the development of 260 new homes across the Pollokshields and Cardonald areas of Glasgow over the next five years.
Among the proposals to benefits is a development at St Andrews Crescent by jmarchitects which will see 49 homes and flats built at St Andrew’s Crescent, replacing substandard homes with a variety of ‘urban villas’.
Spanning six separate blocks the project is aimed at first-time buyers and will sit within an area of upgraded public realm overseen by Rankin Fraser.
Southside chair Margaret McIntyre commented: “We are very proud to have secured this loan facility with Handelsbanken. It will allow us to continue to invest record levels in our tenants’ homes, particularly for new heating, and will also support our programme of new homes for people who desperately need affordable accommodation.”
The credit facility will also be used to fund the renovation of 700 existing homes, primarily through replacement of electric storage heaters with air source heat pump systems.
All properties will have access to private outdoor space, be that gardens, a balcony or roof terrace