Radius Housing and Barclays announce £50m funding deal

Radius CEO John McLean pictured, left, with Joanna McArdle of Barclays and Eddie McGowan, Radius
Radius CEO John McLean pictured, left, with Joanna McArdle of Barclays and Eddie McGowan, Radius

Radius Housing and Barclays have agreed a new £50 million funding package which will be used to fund the development of several hundred social and affordable homes across the province.

The funding package, announced today by Radius Housing CEO John McLean and Barclays relationship director Joanna McArdle, is one of the largest in the social housing sector in recent years and will support the association until 2020.

Radius was formed last year, with the merger of Fold and Helm Housing Associations, and has announced several ambitious development plans.

These include the recently approved, £35 million mixed use development at the former Visteon site in Belfast.

This site includes 244 social, affordable and private homes together with 60,000 sqft of employment space, community facilities and open leisure spaces.

Radius has also been chosen to lead regeneration projects in Hope Street, Belfast and St Patrick’s Barracks Ballymena, with a combined potential for up to 400 more new homes.

The new funding facility will enable it to begin more than 800 new social and affordable homes on site by 2020.

“The funding we are announcing today will not only help tackle housing stress in areas of high demand but will also address employment and wellbeing needs, making communities more resilient in these challenging times,” said Mr McLean.

“The Radius Board is keen to see us maximise our positive impact throughout Northern Ireland.

“Our developments are supporting the local construction and building supply industry, protecting local jobs and creating apprenticeship opportunities.

“We intend to bring up to 300 permanent jobs to West Belfast through our Visteon project.

“We value our partnership with Barclays, whose working knowledge in this sector meant they have understood our vision for diverse and vibrant communities.”

Radius currently employs more than 1,000 people and manages 12,000 properties in 80 towns across Northern Ireland.

It also provides supported housing with 24 hour care for frail and elderly people, people with dementia and those with learning difficulties;

With a long history of supporting social housing in Northern Ireland, Ms McArdle said its clear commitment made it uniquely positioned to secure this “landmark” deal.

“It is one of the most significant in recent years, bringing a much-needed boost to two of our most vital sectors, construction and housing.”