The Harrogate Housing Association has secured a substantial £15m loan that will allow it to build new sustainable houses in the town.
The funds, which have come from Triodos Bank UK, will be used to develop 200 new homes in and around Harrogate with an energy performance certificate of B or above - the second-highest level of efficiency.
Some new homes will also be fitted out with air source heat pumps and solar panels, although a location has not yet been revealed.
Founded in 1968 to provide good quality homes at affordable rents, Harrogate Housing Association currently has a portfolio of just over 300 houses.
Steven Brook, chief executive of Harrogate Housing Association, said:
“This finance is very important for us as it enables us to go ahead with our plans to significantly increase the number of affordable homes we provide for the people of Harrogate.
“We are passionate about making housing inclusive for local people, who might otherwise be pushed out by the high property prices in the area.
“With Triodos Bank’s support, we are delighted to be able to create more high-quality housing to support local families.”
Harrogate Housing Association currently have a number of properties across the town including terraced houses, adapted bungalows and new builds.
It has also built Meadowgate in Burton Leonard, Harvest View in Bishop Monkton and St Thomas’s Way in Green Hammerton.
Peter Borgers, senior relationship manager in the lending team at Triodos, said:
“We’re very pleased to support Harrogate Housing Association in its plans for growth; its ambitious development programme will help provide a significant number of much-needed affordable homes in the area.”
UK Prime Minister Keir Starmer, who was elected in July, pledged to fix the country’s chronic housing shortage, promising to build 1.5 million new properties by the end of its first five-year term.
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