Housing project to be funded thanks to Welsh Government loan
1 April 2021
News that a Welsh Government loan will be used to fund a new housing project being built by Powys County Council, has been welcomed.
The council's Affordable Housing and Regeneration Teams have been successful in securing £2m through the Welsh Government's Town Centre Loan scheme, which will now be used to help fund the build of 22 new council homes on the former livestock market in Llanidloes.
The loan scheme supports councils across Wales to reduce the number of vacant, under-utilised and redundant sites and premises in town centres by providing interest-free loans to redevelop or refurbish sites.
The properties will be redeveloped as shops, homes and leisure facilities, with loans being recycled up to three times over a 15-year period. Once repaid they can be used again to fund new loans and be re-invested in similar projects.
Work on the new council homes in Llanidloes is well underway, which will see two four-bed houses, four two-bed houses, six three-bed houses, eight two-bed bungalows and two three-bed dormer bungalows being built at the Gorn Road site.
Nigel Brinn, the council's Corporate Director for Economy and Environment, said: "I'm delighted that we have secured this town centre loan from the Welsh Government for our exciting housing development that is being built in Llanidloes.
"The council has an ambitious target for building 250 new homes by 2025 as part of our Vision 2025. We are already making excellent progress to meet this target with several housing projects currently under construction including the development at the former livestock market in Llanidloes.
"Once complete, the new homes will help address the rising demand in the county for affordable homes."