Tirion Homes secures record £24.5m investment for low-carbon housing scheme in Tonyrefail

Daniel Bevan - Senior Journalist

Cardiff-based developer Tirion Homes has secured a landmark £24.5 million investment to deliver a major low-carbon housing development in Tonyrefail, Rhondda Cynon Taf. The deal includes £17.5 million from the Development Bank of Wales—its largest single investment to date—and £7 million in Welsh Government grants.

The funding will support the construction of 114 energy-efficient homes at Parc Eirin, a mixed-tenure residential scheme that aims to set a new standard for sustainable living in Wales. Construction is already underway with regional contractor Morganstone on board to deliver the project by the end of 2027.

All homes in the development will meet EPC A-ratings, with energy-saving features such as solar panels, communal battery storage, and ground source heat pumps. The scheme will comprise 81 two- and three-bedroom homes and 33 one-bedroom apartments, available through both open market sale and social rental.

Funding for the project is being drawn from the Development Bank’s Wales Property Fund and Wales Stalled Sites Fund, while the Welsh Government is contributing through its Innovative Housing Programme, including £3.6 million from the Low Carbon Fund and £3.9 million from the Modern Methods of Construction Fund.

Welcoming the investment, Jayne Bryant, Cabinet Secretary for Housing and Local Government, said: “The Welsh Government is committed to building 20,000 low-carbon social homes for rent by 2026. Developments like Parc Eirin not only increase the supply of affordable, high-quality housing but also stimulate local economies and support job creation. This is a perfect example of socially responsible investment in action.”

David Ward, CEO of Tirion Homes, praised the public-private collaboration: “We are proud to be part of this milestone investment that supports the government’s housing goals and accelerates regeneration in South Wales. Parc Eirin is more than just a housing development—it’s a community-focused, sustainable neighbourhood that reflects our mission.”

Tirion Homes has a proven track record in delivering large-scale housing schemes, including The Mill in Cardiff and Royal Victoria Court in Newport. The company’s latest project continues its commitment to combining sustainability with social impact.

Cenydd Rowlands, Property Director at the Development Bank of Wales, highlighted the significance of the deal: “This is the largest single investment we’ve made, and it reflects our confidence in Tirion Homes and the value of the Parc Eirin project.

“Through tailored finance solutions, we’re enabling small and medium-sized developers to transform ambitions into real, impactful developments across Wales.”

The Development Bank of Wales provides short-term development finance ranging from £150,000 to £10 million through a suite of funds including the Wales Residential Property Fund, Wales Commercial Property Fund, and Green Development Incentive.

With construction now underway, Parc Eirin is poised to become a flagship example of how public and private capital can combine to deliver sustainable homes and strong communities.