Housing association development funding secured for Northern Ireland

Triangle Housing Association has secured a £22 million revolving credit facility from a major bank to bolster its development program.

 

This funding is set to finance the construction of 100 to 150 new social housing units over the next 18 months, addressing the escalating demand for homes across Northern Ireland.

 

Alan Crilly, finance director at Triangle Housing Association, emphasised the significance of this loan facility, especially during a period of increasing housing stress and reduced grant levels.

 

Highlighting that collaborating with robust financial partners enables the association to advance its development plans and fulfill the housing needs of communities throughout Northern Ireland.

 

Dominic O’Neill, senior corporate banking manager at the bank, expressed satisfaction in continuing the partnership with Triangle Housing Association.

 

Dominic noted that the substantial financial package will facilitate the expansion of housing provisions and support communities by developing high-quality social housing across the region.

 

Triangle Housing Association, based in Ballymoney, employs nearly 500 individuals and manages over 1,600 social housing units, including supported living accommodations. In the current year, the association has delivered 70 new homes in areas such as Antrim, Ballymoney, and Limavady.

 

Additionally, construction is underway for over 100 new homes in Coleraine, Ballymoney, Cullybackey, Limavady, and Maghera.

 

In a related development, Triangle Housing Association has initiated a tender for the provision of suitable land, design, and construction of 15 to 25 social rented housing units in Limavady.

 

This project, with an estimated value of £4.58 million, aims to meet the standards set by the Department for Communities NI. The tender was published on March 2, 2026, with a submission deadline of April 8, 2026.

 

This initiative aligns with the broader efforts to address the housing crisis in Northern Ireland. The Northern Ireland Federation of Housing Associations has welcomed additional investments in social housing, emphasising the pressing need to increase the social housing development program budget to accommodate the growing number of families on the waiting list.

 

Triangle Housing Association's proactive approach, supported by strategic financial partnerships, underscores its commitment to enhancing lives by providing homes, supporting individuals and families, and sustaining communities across Northern Ireland.