The funding will be used for the development of 114 affordable homes and two commercial units in Dalmarnock, Glasgow.
The scheme will comprise a mix of energy-efficient one- to five-bedroom social rented and mid-market rental homes, in addition to play areas.
Construction is set to start this month, with handovers expected to be completed by the end of the 2021/22 financial year.
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The scheme is part of the Clyde Gateway project, which is claimed to be Scotland’s largest regeneration programme.
The project will be jointly funded by Glasgow City Council and private finance provided by WSHA lenders.
Innes Smith, CEO at Springfield Properties, said: “We are pleased to be partnering with West of Scotland Housing Association for the first time and look forward to delivering well-designed, attractive, highly energy-efficient homes that will have a positive impact on the area.”