North Yorkshire housing association receives £80m to drive forward net zero ambitions

A North Yorkshire-based housing association has received an £80m funding package from NatWest, to progress its green growth plans.

Broadacres Housing Association will use the funding to fulfil a range of long-term objectives across the business including the delivery of 800 new homes for those most in need across the region, as well as support plans to become a net zero carbon business by 2050.

Established in 1993, the not-for-profit housing association, has grown to become a £40m annual turnover business with more than 380 employees, supporting social housing needs predominantly across North Yorkshire.

The multi-million funding package will also see Broadaces drive forward its green agenda. Currently, Broadacres is working to tackle fuel poverty by replacing old storage heaters with new, more energy efficient, heating systems such as air-source heat pump technology.

David Smith, executive director, Broadacres Housing Association, said: “Primarily, Broadacres’ aim is to help local communities and the people within it to have a better quality of life, through the provision of better homes at affordable rates.

“The support that NatWest has provided Broadacres over a number of years has allowed us to serve the local community and create genuine value within the North Yorkshire region.

“Becoming net zero will help Broadacres grow, seize new opportunities, create new jobs, encourage investment and adapt to the challenges of climate change.”

David Horne, director of housing finance at Natwest said “Since NatWest confirmed its £3bn commitment to the UK Social Housing sector for the next three years, we have seen Broadacres committing to re-invest within the sector as well as tackling the climate.

“NatWest has had a long-term partnership with Broadacres and this tailored funding package will help Broadacres move forward in its next phase of its strategy.

“We look forward to continuing to support the business with its meaningful contribution to local communities, while helping facilitate its journey towards net zero.”