Broadacres Housing Association has received an eight-figure funding package from NatWest to help progress green growth plans.
The North Yorkshire based housing association has been given £80 million in funding which will help the not-for-profit fulfil a range of long-term objectives throughout the business including the delivery of 800 new homes for those who are most in need in the region, as well as supporting plans to become a net zero carbon business by 2050.
Since it was established in 1993, Broadacres has grown and now employs over 380 people who support social housing needs predominantly in North Yorkshire. It owns 6,500 homes in North Yorkshire split across rented, supported and shared ownership.
David Smith, Executive Director at Broadacres Housing Association, said: “Primarily, Broadacres’ aim is to help local communities and people to have a better quality of life, through the provision of better homes at affordable rates.
“The support that NatWest has provided Broadacres over a number of years has allowed us to serve the local community and create genuine value within the North Yorkshire region.
“Becoming net zero will help Broadacres grow, seize new opportunities, create new jobs, encourage investment and adapt to the challenges of climate change.”
The funding package will see Broadacres drive forward its green agenda. Currently the organisation is working to tackle fuel poverty by replacing old storage heaters with new, more energy-efficient heating systems like air-source heat pump technology.
Other schemes across the organisation, such as reducing the amount of waste it produces and switching to an electric or hybrid fleet, will ensure Broadacres reaches its net zero goal by 2050.
David Horne, Director of Housing Finance at NatWest, commented: “Since NatWest confirmed its £3 billion commitment to the UK social housing sector for the next three years, we have seen Broadacres committing to reinvest within the sector as well as tackling the climate.
“NatWest has had a long-term partnership with Broadacres and this tailored funding package will help Broadacres move forward in its next phase of its strategy. We look forward to continuing to support the business with its meaningful contribution to local communities, while helping facilitate its journey towards net zero.”
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