Funding has been announced today for the development of two new housing projects in South Wales - one in Whiteheads Newport, and another at Eirin Park in Tonyrefail.
Announcing the funding, Economy Minister Edwina Hart said the Welsh Government has agreed to a £7m loan to the Whitehads Development Company, and a £1m loan to the Parc Eirin Development Company.
Both are subsidiaries of Tai Tirion, a not-for-profit organisation set up to deliver high quality affordable homes across Wales.
Subject to planning permission these two new projects are anticipated to create around 2,300 jobs and deliver an economic benefit in the region of £225 million to the local economies.
These are significant figures that will support job creation in the construction industry as well as businesses within the supply chain.
They will also help transform brownfield sites into thriving communities and provide affordable homes in places where people want to live which are within the financial reach of young families and lower income families.
– Edwina Hart, Minister for Economy, Science and Transport
2,300 jobs are expected to be created at two new major housing developments in South Wales.
Funding was announced today for the projects, which could also deliver an economic boost of around £225 million, as well as a high proportion of affordable housing.
The new residential developments are proposed to be built on the 39-acre former steelworks site at Whiteheads in Newport, which will also support a new primary school, and a 16-acre site at Eirin Park in Tonyrefail.
Both sites will provide up to 50% affordable homes and the sale of land at both will be subject to successful planning applications.
Economy Minister Edwina Hart said the Welsh Government has agreed a £7m loan to the Whiteheads Development Company and a £1m loan to the Park Eirin Development Company.
These two new developments are the latest additions to the Tai Tirion portfolio, which also contains The Mill, a £100m affordable housing development on the site of an old paper Mill in the centre of Cardiff.
Wales' largest house builder has announced plans to build 450 new homes across Pembrokeshire, with, it says, the potential to create over 1,300 jobs over the next five years.
Managing Director of Persimmon Homes West Wales, Huw Llewellyn, said: "We have found that the Local Authorities in West Wales have reacted more positively to the economic realities facing house builders and are taking positive steps to help make developments viable.
According to Pembrokeshire County Council's Local Development Plan, there is a significant lack of housing in the region and this latest announcement from Persimmon Homes will provide around 90 affordable houses.
The remainder will be available on the Welsh Government's Help to Buy Wales scheme thus helping first time buyers and families looking to upgrade to a bigger family home to do so.
Between now and 2021, Pembrokeshire County Council has made provision for 7,300 dwellings in the Local Development Plan, enabling the delivery of 5,700 homes, and Persimmon Homes is set to deliver eight per cent of this over the course of the next five years.
Community Housing Cymru is calling for 8,000 affordable houses to be built by 2015. The charity, which represents not-for-profit housing associations in Wales, wants the 6,500 target set by the Labour-Plaid Cymru One Wales coalition government last year to be increased.
Group Chief Executive, Nick Bennett, said: "We believe the sector has produced around 2,000 new additional houses this year but we will be falling off a cliff unless we can sustain investment over the next three years...We need a new target and additional resources going forward."