Loretto’s £54m investment set to build hundreds of new homes and improve existing properties
The housing association – which is part of Wheatley Group – has revealed that, over five years, it is spending £46m on building more than 450 new affordable homes.
An additional £8m will go towards improvements to more than half of its existing 1,200 properties in the central belt.
The programme to deliver the 450 new homes is already under way, with 47 properties completed in Falkirk and Glasgow.
Building work has started on two sites in North Glasgow which will provide more than 100 new homes in the next year, with another eight sites in Glasgow and North Lanarkshire in the pipeline.
Loretto’s new-builds cover a range of supported and adapted accommodation, and include housing for both social and mid-market rent, to meet the broadest spectrum of needs within its communities.
In the next year, improvement works to existing homes will include the installation of new kitchens, boilers, bathrooms, windows and doors.
Over the course of the five years, around 113 properties in Grangemouth and Falkirk; 287 homes across Renfrewshire and West Dunbartonshire; 234 properties in Glasgow; and 242 in North and South Lanarkshire will benefit from the improvements.
And by the end of the programme, all Loretto customers will have modern kitchens and bathrooms as well as whole house heating to help save on fuel bills.
Loretto director Cathy Fallon said: “This significant investment will see real improvements for existing tenants, and those improvements are based on their feedback.
“The 450 new properties will offer even more people the option of affordable homes that are not only comfortable and spacious; but also energy efficient and modern.
“We have had great feedback from tenants already enjoying the benefits, which is fantastic as we want them to be proud of their homes and communities.”