Work has begun on the first Leeds & Yorkshire Housing Association (LYHA) development funded through a £13million loan agreement from Santander Corporate and Commercial Banking secured to support the association’s ambitious growth programme over the next three years.
Allan Murray, director of housing finance at Santander Corporate Banking, met LYHA’s chief executive Lisa Pickard, and development manager Joanna Chambers at the Aldham House Lane site in Wombwell, Barnsley, where the association is building 25 new affordable rented homes, due to be completed in March 2016.
In total, the £13m facility is expected to enable LYHA by 2018 to provide up to a further 150 homes in its core areas of Leeds, Barnsley and Whitby. The plan is to use these funds equally between the Association building new homes itself, such as those at Aldham House Lane, alongside effective partnerships with developers including Redrow, Ben Bailey and Bellway to purchase S106 homes on larger home ownership sites.
This comes at a time when the National Housing Federation’s Home Truths report shows that over the next 20 years in the Yorkshire region alone, there will be 369,000 new households created, but at current building rates, there will be a shortfall of 200,000 homes by 2031 and LYHA is committed to playing its part in providing new homes to tackle the housing shortage.
As well as Aldham House Lane, LYHA is currently building a further 27 affordable rented two and three-bedroom homes in Athersley, Barnsley, plus 23 one and two-bed apartments close to Leeds city centre. The new homes will be built to Level 3 of the Code for Sustainable Homes, ensuring the homes are energy efficient and affordable to live in at the same time as reducing carbon emissions.
LYHA is committed to adding value to existing communities in areas where it works and ensuring it makes a positive local impact. All new homes built by LYHA are designed in keeping with the local area and, whilst providing modern new fit-for-purpose homes, will add value to and enhance the local area as well as benefit local residents.
Lisa Pickard said: “Santander is the perfect partner in growing our business and helping us successfully deliver our vision to ‘provide excellent quality affordable homes and services that make a positive impact on people and communities’.
“The backing of Santander further cements LYHA’s credentials as a strong, viable and efficient business. We are equipped and enabled to build more much needed new homes in the Yorkshire area.”
Allan Murray said: “LYHA is a passionate business with a great track record, which is fully committed to tackling housing shortage in its operational area.
“We are thrilled to be able to support such a positive business and one that also underlines our own commitment to support the affordable housing sector in Yorkshire. We look forward to seeing this relationship develop further in the future.”