4 November 2019

Principality Commercial funds £10m towards community housing projects

Principality Commercial has provided £10m in funding towards housing developments in North Wales. The developments, managed by housing association Grŵp Cynefin, will provide over 160 homes to local communities.

Developments receiving the funding include the Brighton Road housing development in Rhyl as well as the Awel y Dyffryn Extra Care scheme in Denbigh. The Brighton Road development, now completed, consists of eight affordable housing apartments. Set for completion in 2020, The Awel y Dyffryn Extra Care scheme, in partnership with Denbighshire County Council, will enable older residents to live independently in a safe and homely environment.

Earlier this year the Society’s fund for Welsh housing associations was increased to £75m to support affordable housing investments in communities throughout the country.

Peter Hughes, Managing Director, Principality Commercial said:
“We’re proud to be working with Grŵp Cynefin who are enabling the development of much needed homes in North Wales. As a Society, we’re committed to ensuring communities prosper, which is why we are delighted that Grŵp Cynefin - who share this ethos – have accessed the fund.”

Bryn Ellis, Business Services Director, Grŵp Cynefin:
“Principality’s core values of investing in local communities mirrors our own and we’re pleased to be continuing our strong relationship with the Society, which began many years ago.”

To find out more, visit www.principality.co.uk/commercial

Published: 04/11/2019