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Dumfries to get 80 affordable homes

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By Amanda Kennedy
Dumfries and West

EIGHTY new affordable homes are to be built in Dumfries, it was announced yesterday.

The funding to finance the construction is a result of the Scottish Government investing £6.8 million in charitable bonds.
The bonds are ethical financial products – no profit is taken by Allia, the social investment charity who issues the bonds on the Scottish Government’s behalf.
And Allia have provided Dumfries and Galloway Housing Partnership (DGHP) with a loan of £5 million.
The interest on the loan, around £1.8 million, will be converted into a charitable donation, which the Scottish Government will give to housing associations for the construction of new social housing.
DGHP chief executive Zoe Forster said: “DGHP is delighted to be able to take part in the Scottish Government funded Allia bond programme.
“The loan we have just concluded will be invested in new build housing in Dumfries and Galloway, and will allow us to move forward faster than we had expected to meet the housing needs of our communities.”
The move has been welcomed by South Scotland MSPs Joan McApline and Emma Harper.
Ms McAlpine said: “This is great news for Dumfries. Eighty new, good quality, affordable homes will help to keep our young people living and working here.
“Providing this type of housing is a key priority for the Scottish Government and will help to attract and retain people in our rural communities.
“This SNP government has committed to deliver 50,000 more affordable homes over the next five years, backed up with investment of more than £3 billion. This announcement marks another step on the road to delivering that pledge.”
Ms Harper added: “Financing schemes such as charitable bonds play a significant role in helping the Scottish Government to deliver a major expansion in housing supply – and the housing minister deserves credit for his innovative approach.”a

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