Up to 120 properties are being refurbished through grants and loans to tackle the problem of long term vacancies and improve the quality of housing stock in the private rented sector. The homes are being leased at an affordable rent for ten years.
Deputy Minister for Housing and Local Government Hannah Blythyn said:
“It’s really encouraging to see how this funding is making a difference and bringing homes back into use.
“We are committed to providing more affordable homes across Wales, and this investment is also supporting local construction jobs and revitalising parts of our town centres.
Mr Emyr Roberts of EM & W Roberts, has converted an empty barbers shop into six one bedroom flats on Bangor High Street thanks to a Welsh Government Targeted Investment Regeneration grant and a Houses into Homes loan – as well as support from Gwynedd Council.
Gwynedd Council Cabinet Member for Housing, Councillor Craig ab Iago said:
“We are pleased that the positive work being carried out here in Gwynedd to transform empty properties into homes has been recognised as an example of good practice.
“This particular project sees an empty building on the high street in Bangor being put to good use. It offers much needed one-bedroom flats as part of continued efforts to ensure a suitable mix of affordable homes for Gwynedd residents.”
This investment is part of the Welsh Government’s Targeted Regeneration Investment programme, £100 million of funding over three years to support regeneration projects, supported by an estimated further investment of at least £60 million from other organisations and businesses.
The Welsh Government’s overall regeneration strategy will invest £800 million between 2014 and 2023. This includes around £250 million from the Welsh Government supported by more than £550 million from other organisations and businesses.