Housing association Plymouth Community Homes has secured a £65m loan from Natwest.
It will use the eight-year loan to build 1,000 affordable homes and upgrade its 16,000-home portfolio.
PCH is aiming to deliver the new housing in and around Plymouth by 2026. The majority will be affordable rented, alongside some shared-ownership homes.
Nick Jackson, director of business services and development at PCH, said: “The funding arrangements mean we will be able to undertake the modernisation of our blocks of flats with more flexibility.”
The loan is part of NatWest’s strategy to deploy £3bn of finance to housing associations by the end of 2022 to support new social housing and improvements to existing homes.
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