A housing association has secured a £100 million funding deal.
Birmingham-based Midland Heart Housing Association has agreed the loan with NatWest which it will use to upgrade its existing social housing stock and support new developments.
The firm plans to build more than 2,000 new homes within the next five years, including 100 net-zero carbon houses.
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Celebrating its centenary year in 2025, the business has since developed a portfolio of approximately 35,000 homes providing services to around 70,000 customers, predominantly in Birmingham, Coventry and Wolverhampton.
Joe Reeves, deputy chief executive at Midland Heart, said: "Our tenants are the heart of what we do and we want to ensure that quality housing is accessible to all.
"This investment will enable us to play our part in addressing key issues facing the º£½ÇÊÓƵ housing stock and to continue providing high standard, energy-efficient homes for thousands of residents, ensuring their well-being and comfort.
"Securing this funding is a really important step in pursuit of our ambitious development plans and we're looking forward to working alongside NatWest, benefitting from their sector expertise through the delivery of the project."
Martin Skinner, director of house finance with NatWest, added: "Our partnership with Midland Heart Housing Association is testament to our commitment to supporting regional growth and investing in communities.
"Through this funding deal, we are not only enabling significant upgrades to existing social housing stock but also backing Midland Heart's ambitious development goals in a collaboration that aligns perfectly with our values of enabling sustainable initiatives and partnering with organisations dedicated to enhancing community well-being.
"We look forward to seeing the positive impact this funding will have on the communities they serve."
