HUNDREDS of new homes will be built in Torfaen by 2021 following a multi-million investment into the region.

The £30.5million investment — secured by Torfaen-based social landlord Bron Afon — will deliver around 450 extra new homes.

On Monday the housing firm signed a deal with the European Investment Bank, Principality Building Society and the Royal Bank of Scotland to fund the development programme.

The loans will be issued as each development project is started and approved and Bron Afon aims to use the funds to contribute to the Welsh Government target of 20,000 new homes before 2021.

Chief executive of Bron Afon, Duncan Forbes, said that he “can’t wait to get started” on “making our plans a reality with this cash for the benefit of the borough”.

“This investment is going to mean new homes and with that level of investment we can also secure and create new jobs and training places,” he said.

“Our That Works Training Academy trains people and then helps them get paid-jobs and placements on building sites.

“All our projects in this plan will have clear targets for the jobs and apprenticeships we expect to be created.”

He added: “That alone is going to give many local people a foot-in-the-door of a career in the construction industry.”

Around 94 new properties have been started or are about to start ranging from bungalows to one and two bed flats / houses.

Half of these properties are in and around Pontypool are with the rest planned for other areas in the borough.

Areas listed in Torfaen include Clarence Street in Pontypool, Blenheim Road in St Dials, Coed Cae in West Pontnewydd, Commodore Hotel in Llanyrafon and Elmhurst Close in Trevethin.

Other areas outlined for new housing include Blaenavon, Pontymoile and Garndiffaith and at least 400 of the total 450 properties will be new builds.

A Bron Afon spokesman added the plan is to make almost all of the homes affordable, either to rent or buy in terms of shared ownership.

Bron Afon’s chief executive, Mr Forbes, added: “The Welsh Government has a target of building 20,000 affordable homes before the end of its current term in 2021.

“Our 450 homes will be built before then so we are helping to make sure Wales is on target to meet its housing demand.”

For more information visit https://www.bronafon.org.uk.