CHA, which operates throughout the Dundee, Angus, Perth and Kinross, Fife, East and West Dunbartonshire, North Lanarkshire and Highland local authority regions, owns and manages 5,500 properties.
As part of its five-year business plan, the housing association has committed to build more than 600 new affordable homes which the Royal Bank of Scotland funding will help enable. Proposals include the regeneration of Bellsmyre in West Dunbartonshire, where CHA will transform a current brownfield site to provide a mixture of one-, two- and three-bedroom houses. Completion is expected in summer 2022.
The Royal Bank of Scotland funding has also been earmarked to support prospective new developments across Dundee, Perth, Angus and the Highlands.
“Caledonia Housing Association’s strategy is focused on providing homes and services that make life better for people throughout Scotland,” said CHA director of finance & governance Leigh Grubb. “The funding from Royal Bank of Scotland gives us greater financial flexibility to deliver an ambitious programme to build more affordable homes and much needed regeneration for communities.”
Alan Newlands, relationship director at Royal Bank of Scotland, said: “Working with Leigh and the team to provide a flexible financial package has been incredibly rewarding as they press ahead with the delivery of much-needed homes across Scotland.
“This transaction strengthens our relationship with Caledonia Housing Association and we’re looking forward to helping them to continue delivering positive change with their sustainable agenda.”