Paragon Bank’s development finance division has supported Yorkshire-based GEM Construction with a £3m funding facility for Dennings Yard, a nine-house development in York.
Built on a former scrapyard, Dennings Yard features three and four-bedroom homes with amenities like solar panels, electric car charging points, private gardens, cycle storage, and communal gardens.
The development is located a mile from York city centre, offering easy access to local amenities and public transport.
The deal was managed by Karl Kent, relationship director at Paragon Bank, supported by Shannon Altimas, senior portfolio manager.
Kent said: “It’s been great to support GEM Construction on this ambitious new project that promises to deliver high-standard homes to the popular city of York.
“Since joining Paragon just over a year ago I have worked with multiple developers in Yorkshire to deliver much-needed housing to the area.
“For Paragon, it’s our priority to continue supporting schemes in Yorkshire as it becomes increasingly popular with developers and buyers alike.”
Mike Green, chairman at GEM Construction, said: “It’s been a pleasure to work with Karl and Paragon Development Finance on Dennings Yard.
“The new scheme will transform the derelict site of a former scrapyard into nine new homes in this popular area.
“We look forward to working with Karl and Paragon in the future.”
