£24 Million Welsh Government Investment Unlocks Land for Over 600 New Homes Across Wales

The Welsh Government’s £24 million loan funding initiative, known as the Land for Housing scheme, is set to unlock vital land for housing development, delivering more than 600 new homes across Wales for both social and market housing. This strategic investment is transforming communities by enabling the creation of sustainable, low-carbon homes and fostering brighter futures for hundreds of residents.

The £24 million investment provides loan funding to support the acquisition of land, ensuring that development opportunities are not missed before construction grant funding becomes available. Once construction funding is secured, the loan is repaid and reinvested into new projects, creating a sustainable cycle of housing development. This approach has built a strong pipeline of land sites, contributing to the Welsh Government’s ambitious goal of delivering 20,000 new low-carbon social homes during this Senedd term.

A notable example of the scheme’s impact is the Ffordd Yr Haearn development in Grangetown, Cardiff, where Wales & West Housing received £3 million in loan funding to acquire land in 2018. This was followed by £10 million in grant funding to develop 100 homes for affordable social rent, completed in phases between September 2021 and autumn 2022. The development provides a mix of accommodation, including 52 houses with outdoor space and 48 flats, responding to the local demand for safe and secure family homes with gardens. Strategically located near Cardiff’s city centre, the site offers excellent access to local amenities and services.

Cabinet Secretary for Housing and Local Government, Jayne Bryant, visited Ffordd Yr Haearn and met tenants who have settled into their new homes. She emphasized the broader impact of the scheme, stating, “I’m incredibly proud of how our Land for Housing scheme is making a real difference to people’s lives across Wales”. She added, “When we invest in schemes like this, we’re not simply buying land – we’re investing in brighter futures for hundreds of people”. Bryant highlighted the creation of “genuine communities where people can put down roots”.

Stuart Epps, Executive Director for Finance, Assets and Development at Wales & West Housing, underscored the scheme’s significance, saying, “Ffordd Yr Haearn was the first scheme of affordable homes for rent where we applied for loan funding under the Land for Housing scheme”. He noted, “At Ffordd Yr Haearn we’ve been able to provide 100 homes to almost 350 residents, giving families a firm foundation to build healthy, happy lives”. Epps also praised the flexibility of the loans, stating, “Having these loans from Welsh Government is beneficial as it allows housing providers to buy land, freeing up other money that we can invest in building and planning more homes”.

The Land for Housing scheme has enabled Wales & West Housing to undertake multiple housing developments across Wales in recent years. By providing loan funding, the Welsh Government empowers housing providers to secure land and design developments that meet specific community needs, such as family-oriented housing in Grangetown. The scheme’s focus on sustainability and reinvestment ensures a continuous cycle of development, supporting Wales’ housing goals.

The Welsh Government’s £24 million Land for Housing scheme is a cornerstone of Wales’ housing strategy, unlocking land for over 600 new homes and creating vibrant communities like Ffordd Yr Haearn in Cardiff. By combining loan funding with a sustainable reinvestment model, the initiative ensures long-term housing development while meeting local needs for affordable, family-oriented homes. As Jayne Bryant and Stuart Epps have highlighted, this investment is not just about land—it’s about building brighter futures for Welsh families.

The story is based on wired-gov.net recent publications.