A Northern Ireland housing association which provides accommodation and support services for homeless individuals and families is to invest £75 million (about €86 million) to build 550 new homes in the North.
The investment by Ark Housing Association, which is also a registered charity, is being backed by Danske Bank and the North's Department for Communities.
Ark Housing Association currently manages about 450 homes, but it hopes to more than double its current stock. It has received an initial investment of £12 million from Danske and the department’s housing association grant programme.
Jim McShane, Ark Housing’s chief executive, said: “We recognise the importance of maximising our capacity as a social housing provider and as a charity in order to make a significant impact on addressing housing need.
“I am delighted to announce this arrangement with Danske Bank. This £12 million investment sets us firmly on the path to realising our broader five-year plans and will enable us to complete up to 200 of our targeted 550 homes.”
Ark Housing currently provides a variety of specialist homes and services for families, older people and individuals.
Its new housing project will be located in areas where it is experiencing high demand for its services, particularly Derry, Newry, Armagh, Carrickfergus, and Belfast.
