£35m fund having big impact supporting new-build schemes

A FUND from the Cardiff Capital Region designed to support the development of much-needed new homes by helping to remediate brownfield sites is having a significant impact.

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Funded from its £1.2bn City Deal, the £35m Housing Viability Gap Fund has so far supported 14 housing developments across nine of the 10 local authorities that make up the city region in southeast Wales.

When fully developed, the projects will create 2,500 homes, having reclaimed the equivalent of 132 football pitches and supported more than 3,000 jobs.

Nine of the projects have already fully drawn their funding allocation, with a further five in progress. All include affordable housing as part of their mix, with the overall proportion currently being finalised.