A multi-million pound funding package will be used by a Swansea housing association to develop hundreds of new social housing units.
Family Housing Association (Wales) Ltd has announced £30 million of development funding it has secured through Barclays Corporate to build social housing and extra care schemes.
The organisation, which has been providing social housing for 35 years in Swansea, Carmarthenshire and Neath Port Talbot, has more than 2,300 units of accommodation.
Family Housing chief executive Jeff Evans said the ability to raise capital and development funding against the property portfolio meant it was able to develop new housing stock and carry out investment and maintenance on existing stock.
He said: "The objective is to improve all existing homes to the Welsh Housing Quality Standard by the end of 2012 as quickly and efficiently as possible and to develop homes for families, the elderly and for those who need care and support.
"By improving the standards of housing it logically follows that standards of health and prosperity will also improve.
"Our aim is to continue to provide new social housing across our area of operation, working in conjunction with the local communities to establish what matters to them.
"This investment into the local economy is a welcome boost as we spend on much needed improvements and upgrades to our homes and develop additional social housing and extra care schemes across West Wales."
Barclays Corporate relationship director Andy Jones said the banking giant has been able to support Family Housing both financially and professionally.
He said: "As one of a small group of social housing specialists based in Wales I am looking forward to a very busy end to the year as other social housing deals go out to tender.
"Barclays Corporate is committed to using our industry expertise and specialists to support such propositions, which are vital to a prosperous economy."
The latest round of development funding brings the total awarded to Family Housing by Barclays up to £70 million.
It will be used to develop an additional 353 units across west Wales.
South Wales Evening Post - Monday, 6 September, 2010.
