Funding of up to £30 million has been secured by the Guernsey Housing Association (GHA) 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.
Pictured signing the agreement for the £30 million funding tranche at one of the proposed sites, Maison Maritaine, where 50 new apartments and communal facilities are planned to replace the existing States properties, are Guernsey Housing Association Chief Executive, Steve Williams; Guernsey Housing Association Chairman, Quentin Spicer; RBS International Regional Director Rob Girard and Senior Relationship Director Scott Philpott.
Quentin Spicer 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 commented: ‘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.’
A key partner for GHA is the States Housing Department and the Housing Minister, Deputy Dave Jones, added: ‘Without the GHA being able to secure private borrowing the full cost of delivering new social housing would fall on the States; 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.’
Picture (left to right): Steve Williams, Rob Girard, Quentin Spicer, Scott Philpott
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