Danske Bank and Triangle Housing Association have agreed a new £22m revolving credit facility that will support the housing association’s programme of development of new homes across Northern Ireland.
Headquartered in Ballymoney, Triangle is one of the longest established housing associations in Northern Ireland, employing close to 500 people and managing over 1600 units of social housing, including supported living accommodation. As it approaches its 50th year of operation, Triangle has an active development programme of new units of accommodation throughout Northern Ireland.
The new package will underpin Triangle’s plans to finance the development of between 100 and 150 new social housing units over the next 18 months, helping to meet the growing demand for homes throughout the region.
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So far this year, Triangle Housing Association has already handed over 70 new homes across Antrim, Ballymoney and Limavady, providing much-needed housing in local communities.
In addition, there are currently over 100 new homes under construction in Coleraine, Ballymoney, Cullybackey, Limavady and Maghera, further demonstrating the organisation’s ongoing commitment to increasing housing supply. Triangle is also preparing to sign contracts imminently and commence on-site work for multiple new projects before the end of the financial year.
Alan Crilly, Finance Director at Triangle, said: “This loan facility is particularly important at a time when housing stress is increasing, grant levels have reduced, and constraints on the public purse are at an all-time high. By working with strong financial partners such as Danske Bank, Triangle Housing Association can continue to progress its development plans and play a key role in meeting the needs of people in communities across Northern Ireland by delivering new social housing.
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“As Triangle Housing Association approaches our 50th anniversary next year, our commitment to our vision of ‘Building Better Lives Together’ and our mission to enhance lives by providing homes, supporting individuals and families, sustaining communities, remain as strong as ever.”
Dominic O’Neill, Senior Corporate Banking Manager at Danske Bank said: “We are really pleased to continue our relationship with Triangle Housing by providing this significant financial package which will enable it to expand its housing provision and support communities through the development of high-quality social housing across Northern Ireland.
“Danske Bank has been a lead provider of finance to the social housing sector in Northern Ireland for many years and we want to continue to help the sector to thrive and meet the needs of people across Northern Ireland. This funding underscores our commitment to supporting communities across Northern Ireland.”
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