Welsh Government improves empty properties to create new homes
Around 120 empty properties in Anglesey and Gwynedd are being refurbished by the Welsh Government to fight the housing crisis.
Up to 120 properties are being refurbished through grants and loans to tackle the problem of long term vacancies and improve the quality of housing stock in the private rented sector. The homes are being leased with affordable rent for ten years.
This investment is part of the Welsh Government’s Targeted Regeneration Investment programme, £100 million of funding over three years to support regeneration projects, supported by an estimated further investment of at least £60 million from other organisations and businesses. Recently, Gwynedd locals converted an empty barbers shop into six one bedroom flats on Bangor High Street thanks to a Welsh Government Targeted Investment Regeneration grant and a Houses into Homes loan – as well as support from Gwynedd Council.
Gwynedd Council Cabinet Member for Housing, Councillor Craig ab Iago said: “We are pleased that the positive work being carried out here in Gwynedd to transform empty properties into homes has been recognised as an example of good practice.”
“This particular project sees an empty building on the high street in Bangor being put to good use. It offers much needed one-bedroom flats as part of continued efforts to ensure a suitable mix of affordable homes for Gwynedd residents.”
The Welsh Government’s overall regeneration strategy will invest £800 million between 2014 and 2023. This includes around £250 million from the Welsh Government supported by more than £550 million from other organisations and businesses.
The Welsh Government has confirmed its commitment to providing affordable homes and revitalising Welsh high streets. They also hope to provide local construction jobs and opportunities for housing projects in towns and cities.
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