Ark Housing Association  has today announced an investment of £75m to build 550 new homes by 2024.

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

The 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  £12m 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, said: “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.”

For further information, please contact the Corporate Services department on 028 90 752310

                                                      Dominic O’Neill, Danske Bank with Jim McShane, Ark Housing Association