£590m For Affordable Homes
13 March 2017, 09:07
More than £590 million is being made available to increase the supply of affordable homes in Scotland, according to the Scottish Government.
Councils across the country will share £422 million to build more homes in their communities.
The remaining investment will fund national schemes for first-time buyers and increasing rural and island housing.
The total budget is said to be an increase of £18 million compared to last year.
Communities Secretary Angela Constance announced the funding on a visit to Link Housing Association in Edinburgh.
Its new development of 161 city centre homes is being supported by £7.3 million of Scottish Government funding.
She said: "A good supply of affordable homes is vital to ensuring everyone has an equal chance of getting on in life.
"That is why it is key to this government's commitment to tackling poverty, reducing inequality and building strong local communities. It also boosts the economy by supporting 14,000 jobs right across the country.
"We're determined to increase and accelerate housing supply, working in partnership with councils and housing associations to deliver quality homes to fit local needs.
"We are committed to delivering at least 50,000 new affordable homes over this parliament backed by £3 billion. This major and increased investment for 2017/18 that I'm announcing supports our ambitious commitment.''
The Scottish Government's extra homes pledge is expected to support, on average, 14,000 jobs a year in construction and other related industries over the next five years.
The total budget for affordable housing supply is £590 million in 2017/18 and includes £422 million in grant subsidy divided between Scotland's 32 local councils.
Link Housing Association's development at City Park, Edinburgh, is being built to the greener homes standard and is a joint development between the Link Group and J Smart & Co.
A total of 161 units are being delivered over three phases, funded through £7.3 million from the Scottish Government's Affordable Housing Supply Programme. There are also an additional 40 unsubsidised homes for private sale on the site.