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17/10/2008

Albyn Housing Society To Invest Over £35m In Affordable Housing

Albyn Housing Society is to build over 180 new affordable homes in the Highlands over the next two years.

The developments, which include 120 houses and flats for rent and 60 for low cost home ownership, represent investment of over £35m, mainly funded through Scottish Government grant and private borrowing.

Calum Macaulay, chief executive,said:"The need for affordable housing is now greater than ever. In the short-term at least Albyn intends to maintain its contribution to meeting these needs across the Highlands and work with Highland Council to meet its target of 500 new affordable homes a year.
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"As well as providing affordable, energy efficient homes for people we are helping the construction sector by providing jobs in housebuilding and the associated industries. As an organisation Albyn is committed to assisting and maintaining communities where people from all incomes have access to homes and jobs."

Albyn is currently onsite at a £3.8m development in Culloden, Inverness. The finished development will include 20 properties for rent and 12 for sale under the Homestake scheme, which allows people on lower incomes to buy a home by purchasing a majority share. Next year the organisation will begin developing sites at Anderson Street, North Kessock Court, Smithton and Leachkin, also in Inverness.

Elsewhere the housing association will convert the former Glenurquart School in Drumnadrochit into 13 homes early next year and build 23 homes in Beauly. In Nethy Bridge Albyn is building 13 flexible, accessible, super-low energy homes for the elderly, including some for low cost home ownership.

(GK/JM)

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