News - 7/04/2010
Record Housing Investment In Inverclyde
River Clyde Homes’ Board has approved a budget of £38.5m for the coming financial year to spend on new build, demolitions and improvements to its properties. This signifies a significant investment in the stock of one of Scotland’s largest housing associations. By far the largest investment, of over £21m, will go into the Association’s ambitious plans to build 850 homes in Inverclyde. Work is already underway on six sites, to build 336 new homes for tenants in Port Glasgow and the East End of Greenock in what is one of the largest house development programmes underway in Scotland. It is hoped that tenants will move into the first completed new homes before summer of this year. Consultation is already underway regarding the regeneration of areas in South West Greenock.
Roy Steel, Chair of the River Clyde Homes Board, welcomed the decision saying: “This represents a major investment in the Inverclyde area and underlines our commitment to deliver on the promises we made at the time of transfer. This budget, combined with the freeze in rents is great news, not only for our tenants but for everyone in Inverclyde.” £12m will be spent on improving the current stock: resulting in 584 ‘mini-mods’ where kitchens, bathrooms and rewiring will be replaced. River Clyde Homes is on target to meet its commitment to meet the Scottish Housing Quality Standard (SHQS).
The Association’s grant from the Scottish Government is dependent on the number of houses reaching the SHQS and last year met successfully the 12% requirement. This year, we aim to exceed the target of 22% of our stock meeting the SHQS. The Association also plans to invest £5.5m on day to day repairs and planned preventative maintenance to its housing stock.
Roy Steel added: “In these challenging and difficult economic times I am pleased that we have been able to approve a budget which will improve homes and build new ones.”
