A piece of derelict land in the east end of Glasgow has been transformed into a thriving new community thanks to seven-figure funding from Unity Trust Bank. Tollcross Housing Association has built 42 flats, houses and townhouses on the site of a former tenement complex which was bulldozed over a decade ago. The development, called Altyre Street, is in the heart of Tollcross and boasts modern, energy-efficient facilities, a communal garden and children’s play areas.

Clive Douglas, CEO at Tollcross Housing Association, said: “When you complete a development like this it’s so rewarding to see the pure joy of the people moving in. It’s easy to say it’s life-changing, but it really is. Some tenants were in tears when they got their keys. If you’re a family of six and have been living in a two-bed property, moving into one of our larger four-bedroom townhouses will undoubtedly improve the whole family’s quality of life. There is a huge demand for social housing in Glasgow and we have over 3,500 people on our own waiting list alone. Forty-two new homes doesn’t sound a lot but we’re committed to continually chipping away at the problem.”

Tollcross Housing Association was established in 1974. Today it owns nearly 2,300 social homes across Tollcrosss, Carmyle, Lilybank and Newbank. Funding for Altyre Street was secured through a £9.3m Glasgow City Council grant and £3.2m funding from social impact bank, Unity.

Clive continued: “This is the first time we’ve worked with Unity. We put the project out to tender and Unity’s terms were the most favourable. It’s also great that the bank has ethical values. Our relationship manager Mark Smith has been brilliant. He was quick to step in when we came up against the usual development issues and he made sure everything was on the right path. He understands our world and made the whole process easier.”

Mark Smith, Relationship Manager at Unity Trust Bank, said: “We work with organisations that create positive impact in society. With over 9,300 people living in temporary, council-owned accommodation in Glasgow, building new housing stock is crucial for the city. We’re delighted to support Tollcross Housing Association. The new homes look fantastic and will bring lasting benefits to the local community.”

Colin Fyfe, CEO at Unity Trust Bank, said: “Over the past 10 years alone Unity has provided over £170m worth of funding to housing associations. I’m particularly pleased that Unity has supported the Altyre Street development. Tollcross Housing Association was a customer at the first bank I worked for back in 1984 – the Tollcross Glasgow Branch of Clydesdale Bank. I remember them well and it’s great to see how the organisation has grown over the years.”

Find out more about how Unity supports housing associations here.