Ark Housing to invest £75m in 550 new homes

Supported by an initial investment of £12m from Danske Bank and the Department for Communities’ (DfC) Housing Association Grant programme, Ark Housing, which currently manages 450 homes, is committed to more than doubling that number over the next five years.

These new homes will be located in high demand areas across Northern Ireland including Derry/Londonderry, Newry, Armagh, Carrickfergus, Crumlin and Belfast and will consist of a mix of accommodation types and sizes to meet a wide range of individual and family requirements.

Of their investment plans and partnership with Danske Bank, Ark Housing’s Chief Executive, Jim McShane, said:

“We recognise the importance of maximising our capacity as a social housing provider in order to have a significant impact on addressing housing need.

“Our primary aim is to provide greater numbers of quality and affordable homes which we can only achieve through successful partnership. That is why I am delighted to announce this £12million investment from Danske Bank today which sets us firmly on the path to realising our ambitious five-year plan and will enable us to complete the first 200 of our targeted 550 homes.”

Dominic O’Neill, Corporate Acquisition Manager at Danske Bank, added:

“The demand for housing is at an all-time high with people sometimes having to wait years to find a home. Ark Housing is delivering high quality homes for families, the elderly and people living on their own. Demand is still outstripping supply, but these new developments will help ease those pressures and we look forward to helping the Association fund further sites in the future.”