The Development Bank of Wales has written a £11.7m loan for the project in Connah’s Quay via the Wales Stalled Sites Fund, its largest single property investment.

The Lloyds-backed Housing Growth Partnership has also committed £2.7m in equity.

Developer Edwards Homes will use the funding to deliver 141 two, three and four-bedroom homes including 49 affordable properties that will be sold to the North Wales Housing Association.

A financial contribution is also being made towards local primary school spaces and recreational spaces on site.

“Our property funds are here to support independent developers in making a big impact in Wales, and can work with them at any stage of development.

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“In the last five years, we’ve invested £212m in the property development sector in Wales, helping to build new homes and commercial premises across Wales,” said Claire Sedgwick, deputy fund manager at the Development Bank of Wales.
 
“It made perfect sense for us to join the Housing Growth Partnership in supporting development on this important project, with investment led by our team based in north Wales and we look forward to its successful completion.”

John McKeon, investment director at HGP, added: “This transaction continues our strong investment levels in 2024, reflecting the important role that HGP equity funding can play in bringing forward new schemes and the regeneration of communities across the UK.

“We look forward to seeing Edwards Homes bring forward the delivery of much needed private and affordable housing in the region and also partnering with them on further schemes in their pipeline.”