Residential scheme in Tonyrefail secures £24.5m investment
Summary
A major new residential scheme in Tonyrefail has secured a \xa324.5m investment including the biggest ever made by the Development Bank of Wales. Tirion has also secured \xa37m in grants from the Welsh Government.Work on the Parc Eirin scheme, a low carbon mixed-tenure residential development project, is under way. All 114 homes will achieve an EPC (energy performance certificate) A-rating and include energy-saving features such as solar panels, communal battery storage and ground source heat pumps. This is exactly the type of investment that can deliver social and economic value to families and individuals across Wales.David Ward, chief executive for Tirion Homes said:: We are proud to be part of this landmark investment from Development Bank of Wales and Welsh Government so that we can continue to support the governments aim to deliver 20,000 affordable, low carbon quality homes by the end of this Senedd term. He said: This is our largest ever investment, so it is particularly pleasing that our funds are being used to support the construction industry and home ownership in Wales.Led by property fund manager Nicola Crocker alongside Karl Jones, senior property development executive, this has been a great team effort that demonstrates our ability to deliver a range of tailored finance options for small and medium-sized developers to bring forward commercial, residential and mixed-use developments that support economic and social growth throughout Wales.
Funding
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