More than 100 homes to be built in St Albans after housing association raises £31m
PUBLISHED: 07:00 20 October 2017
More than 100 new affordable and social homes are to be built in the district.
Hightown Housing Association announced the project after raising £31m through a retail charity bond.
Chief executive David Bogle said: “We embarked on this funding route as it presents an opportunity for ethically-minded investors to contribute to the delivery of much-needed affordable homes.”
Hightown closed the bond offer early due to such a high demand from investors.
Mr Bogle continued: “Once again, the early closure of the retail charity bond underlines the value of building the affordable homes our region so desperately needs.”
Across Hertfordshire, the housing association expects to build 1,000 homes in the next two years, 75 per cent of which will be affordable, social, or immediate rent.
10 per cent of the homes will be in St Albans district, including the soon-to-be-completed Beaufort House.