Guernsey Housing Association gets more funding for social housing

May 30th, 2012 by Guernsey Housing Association

The Guernsey Housing Association (GHA) has secured funding of up to £30 million for the fourth phase of its project to provide affordable social housing for the local market.

The funds have been earmarked for three schemes, the final stage in the transformation of the Grand Bouet site in St Peter Port with the building of a further 80 properties; together with two Extra Care housing developments in the Vale and St Martin where it is proposed to build 113 apartments and communal facilities.

Signing the agreement for the £30 million funding tranche at Maison Maritaine are from left to right: Quentin Spicer, GHA Chairman; Steve Williams, GHA Chief Executive; Rob Girard, RBSI Regional Director; and Senior Relationship Director Scott Philpott. (click image to expand - image courtesy of the GHA)

The signing of the agreement took place at Maison Maritaine, one of the proposed sites, where 50 new apartments and communal facilities are planned to replace the existing States properties.

Quentin Spicer, GHA Chairman, said “securing this Bank finance has meant we can proceed to provide this much needed Extra Care housing for older people in Guernsey who need care and support. Our programme is to start building work this summer with completion in 2014.”

Rob Girard said “this further facility reaffirms the RBS International commitment to supporting GHA. The RBS International Guernsey Relationship Management team have been involved with the Association from its inception and are delighted to continue the support for this key aspect of the island’s corporate housing strategy. Our provision of shared equity mortgages alongside the support here underlines our engagement and support of the Guernsey community.”

The States of Guernsey Housing Department is a key partner for the Guernsey Housing Association. Deputy Dave Jones, Guernsey’s Housing Minister, said “without the GHA being able to secure private borrowing the full cost of delivering new social housing would fall on the States of Guernsey; and given the pressures on States’ finances, this would inevitably mean that less social housing could be built and waiting lists would be longer.  So the importance of the GHA securing this additional private finance cannot be underestimated.”

 

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