PfP igloo and Housing Growth Partnership (HGP) have secured a £15.9m funding package from Paragon Bank’s development finance division for the creation of 78 environmentally-friendly townhouses in Glasgow.
The mix of three- and four-bedroom for sale homes are located in the Port Dundas region to the north of the city and form the second phase of the 27-acre Dundashill development.
igloo will be responsible for developing the scheme, which was masterplanned by PfP igloo, a long-term partnership between PfP Capital and igloo Regeneration.
Peter Connolly, CEO at igloo, said: “Dundashill is an excellent example of the low carbon, sustainable homes that should be a blueprint for the UK’s future housing delivery. Connected to local ecology, cycle and walkways and nearby amenities, it will provide residents with an ideal, environmentally friendly lifestyle. I am delighted that Paragon development finance shared our vision for Dundashill and I look forward to working with the team as the development continues.”
Rachel Miller, investment director at HGP, added: “We’re very pleased to have secured funding from Paragon for Dundashill. It’s fantastic to be on site with this first scheme which epitomises the qualities of design, sustainability and local impact that are key to HGP’s wider partnership with PfP igloo.”
Toby Burgess, Paragon Bank development finance relationship director, said: “Paragon is proud to support the first phase of Dundashill’s regeneration providing 78 energy efficient houses. This innovative project reflects Paragon’s commitment to supporting sustainability and we will be keenly following its progress in the months ahead. This is our first deal supporting PfP igloo and HGP and we have been hugely impressed with their attention to detail and passion for regeneration – we hope it is the first of many.”
