Alpha Housing is to build more than 120 new social homes with the help of a £10m loan facility from Triodos Bank UK.
Alpha currently owns and manages more than 1,000 homes across Northern Ireland, providing sheltered housing for older people, alongside homes for families and disabled people. With more than 50,000 households currently on the social housing waiting list across Northern Ireland, Alpha’s building of new social homes will help address significant housing need across the region.
In line with Alpha’s commitment to decarbonisation, the homes will be built to high energy efficiency standards, achieving a minimum EPC ‘B’ rating, helping residents to save on energy costs while lowering environmental impact. Alpha aims to reduce its carbon emissions by 30% over the next five years and incorporate biodiversity measures in its new developments.
Alpha plans to deliver the new homes over the next five years, with lending from Triodos supplemented by grant funding from the Department for Communities. This agreement marks Triodos Bank’s first lending to a housing association in Northern Ireland.
Alpha was advised on the bank funding arrangements by Savills Treasury Consultants, with legal support from Carson McDowell. Triodos received legal counsel from Addleshaw Goddard and A & L Goodbody, plus valuation advice from Savills Valuers.
Gerard McKeown, COO of Alpha Housing, said: “The lending from Triodos Bank will support us through an ambitious period of growth as we deliver more high-quality, energy efficient homes across Northern Ireland. This investment will help us respond to growing housing need while creating homes and communities where people can thrive.”
Active in the UK since 1995, with offices in Bristol, London and Edinburgh, Triodos Bank lends solely to organisations delivering positive social, environmental or cultural impact. In the last 18 years it has provided over £500m of lending to more than 50 housing associations across the UK. The agreement marks Triodos Bank’s first lending to a housing association in Northern Ireland.
Peter Borgers, senior relationship manager in the lending team at Triodos Bank UK, added: “We are delighted to have Alpha join us as our first housing association customer in Northern Ireland and to support it in its ambitions to provide more much-needed homes across Northern Ireland. The association has an excellent track record as a provider of high-quality social housing, and its work to support nature recovery very much aligns with our mission and values.”