South Yorkshire Housing Association has secured a £50m funding package from NatWest to help deliver green upgrades to its existing properties and build 620 new sustainable homes.
The organisation, headquartered in Sheffield, will use the funds to roll out its plans to achieve zero carbon across its housing stock. This includes upgrades to its properties to improve energy efficiency, reducing its carbon footprint and reducing utility bills for customers.
South Yorkshire Housing Association was founded in 1972 to provide quality homes for the people of Sheffield and surrounding areas. It currently owns and manages more than 6,000 properties.
The funding from NatWest will also enable the housing provider to grow its portfolio by 620 new homes over the next five years, helping to increase affordable and sustainable housing levels in the region.
Robert Young, finance director at South Yorkshire Housing Association, said: “Ultimately, we serve local communities by building properties that create genuine social value, and this funding package from NatWest is really helping us bring our vision to life. We hope to enhance local communities by delivering on our promise to provide sustainable homes at affordable rents.
“The bank’s backing is also helping us transition towards decarbonisation, in line with national targets of becoming carbon zero by 2050. This can only be achieved through the creation of truly sustainable properties, and we will look to deliver this by adding to our portfolio and upgrading our existing properties.”
Jakub Palowski, associate director of housing finance at NatWest, said: “We remain fully committed to supporting housing associations nationwide and have provided a bespoke funding package that will help South Yorkshire Housing Association deliver affordable and sustainable properties to individuals and families across the region.
“We will continue to support the company as it expands its portfolio and delivers on its climate change initiatives. It was rewarding to work on a deal that adds such genuine social and environmental value, and we look forward to seeing how plans progress.”