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.
– Edwina Hart, Minister for Economy, Science and Transport
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.