Porthcwlis is the ‘gateway’ to a finance model that delivers new affordable homes in Wales and the West Country. By building homes for higher rent in areas such as Cardiff Bay, the funding model pays for affordable homes in the valleys.
Trivallis has worked closely with M&G Real Estate who invested £19 million to develop 189 properties across three different sites; 132 are available at affordable rents and social rents.
Under the Porthcwlis framework, land at the International Sports Village in Cardiff was gifted to Trivallis free of charge by the private company Figurehead Homes Limited; seeing 95 new affordable homes being built at Cardiff Bay. An additional 57 properties will be rented or sold at market levels.
A development at Cwmbach near Aberdare comprises of 37 properties for social rent.
Porthcwlis will retain management control of the properties.
Other landowners and social landlords can replicate the legal, funding and ownership structure via the Porthcwlis framework to deliver affordable homes more quickly and to help regenerate other communities.