Development Bank supports construction of green homes

A property developer has started construction on new green homes on the site of a former bungalow, following support from the Development Bank of Wales.Developer Andrew Smith turns old properties into new modern homes in and around Cardiff, with successful projects in Whitchurch, Treforest and Penarth.Smith, keen to start work on greener developments in the area, sought help from the Development Bank to finance a new project at Brynawelon Road, Cyncoed.Work is ongoing at Brynawelon Road, on two four-bedroom, semi-detached homes, with the aim that the new development will achieve Passivhaus certification. Work is forecast to be completed in August 2024.Andrew Smith said: “Innovative builds like these need equally innovative finance to get them off the ground, and the support I’ve had from the Development Bank has been fantastic. The Green Homes Incentive was exactly what we needed, and it gives us the chance to aim at achieving Passivhaus certification for these new properties.”Karl Jones, senior property development executive at the Development Bank of Wales, said: “We are really pleased to be able to work with Andrew in supporting the construction of two Passivhaus homes.”More and more developers are keen to take steps towards greener construction methods – not only because of its lowered carbon output, but also because buyers are looking for energy-efficient homes which will help cut their bills. These homes will be a fantastic example of what the construction sector in Wales is able to achieve in terms of green home building.”The work is funded by the Green Homes Incentive.