Deputy First Minister Nicola Sturgeon announced today that £17m will be invested to speed up the delivery of affordable housing.
The money is part of the £120m acceleration in the three-year affordable housing budget being brought forward over this year and next.
This latest phase of accelerated funding will allow housing associations to purchase unsold stock from the private sector as well as land on which future affordable housing can be built. It will also help to get planned projects on site earlier than anticipated.
Announcing the funding today in Cumbernauld, Ms Sturgeon, said: "We are determined to help the country's businesses and households deal with the impact of the economic downturn and to provide much needed affordable housing as quickly as possible.
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"That is why we have acted swiftly and decisively, within our powers, to help alleviate the pressure of the credit crunch on developers, and speed up the delivery of affordable housing."
Link Group will receive more than £1.7m from the funding to purchase 24 unsold properties in Cumbernauld from a private developer. The Cabinet Secretary announced this latest round of funding from the site today.
At the launch Chief Executive of Link Group, Craig Sanderson, said the Scottish Government has made this funding available as it will increase the supply of affordable housing in many areas of Scotland - and particularly the provision of much-needed housing for rent in North Lanarkshire, where we they have undertaken this joint initiative with Thomas Mitchell Homes, supported by North Lanarkshire Council.
This funding will support projects across Scotland: £3m will help accelerate site starts/construction in Aberdeenshire, Perth and Kinross, Borders, West Lothian, East Ayrshire, Argyll and Bute and East Dunbartonshire
A total of £3.7m will fund land purchase by housing associations for future developments in the Western Isles, Aberdeen, Angus, North Ayrshire, Argyll and Bute, East Dunbartonshire and East Renfrewshire.
An investment of £10.1m will fund the purchase of suitable stock from the private sector in Orkney, Dundee, Clackmannanshire, Stirling, East Lothian, Midlothian, City of Edinburgh, North Lanarkshire and Glasgow.
(GK/JM)
