More than £350 million is to be invested into Glasgow to fund thousands of affordable homes over the next four years.

A report set to be presented to councillors this week has detailed the amount provided by the Scottish Government for the council to hand over to social landlords and private developers for affordable housing.

This year, the budget to cover projects agreed in previous years, new developments and the cost of paying for medical adaptations is almost £67m.

The cash will result in 882 new affordable homes being provided in the city.

Now the Evening Times has revealed the Scottish Government has substantially increased the amount Glasgow is likely to receive in future years.

Next year the figure is almost £86m, rising to almost £97m the following year and in 2020/21 it will be around £104m representing more than £353m in just four years.

The report to councillors said: “The figures represent a significant increase from the current level of funding and relate to the Scottish Government target of delivering 50,000 affordable homes – 35,000 for social rent – across Scotland by March 2021.”

The report said the cash which will be spent this year will generate significant investment in the construction industry, create new jobs and training opportunities and result in a significant boost to the city economy.

It will also result in an improved supply of good quality, sustainable housing in the city and high energy efficient homes resulting in low carbon emissions and low running costs.

The report added: “The new housing will contribute to the continuing regeneration of Glasgow’s neighbourhoods.

“It will provide opportunities for people to access much needed high quality homes, helping to promote sustainable mixed tenure neighbourhoods.”

In May this year, the council launched a consultation document called the Glasgow Standard setting out a minimum standard for all new build housing in the city funded through the government cash.

An interim standard has now been drawn up which sets the minimum required floor space and room sizes and requires housing associations to meet the building standards silver sustainability standard.

If the new rules are approved by councillors on Thursday they will be issued to all housing associations at the start of next month.

Kenny McLean, city council convenor for neighbourhoods, housing and public realm, said: “The delivery of more affordable housing in Glasgow means a better quality of life and more opportunities for individuals and families and is key to tackling poverty and inequality.

“We are committed to supporting the building of thousands of new affordable homes for sale and social rent in the coming years.

“I look forward to our affordable housing supply programme playing its part in the regeneration of the city, transforming our communities and bringing jobs and investment. New, high-quality, housing will lead to an improved environment for everyone in Glasgow.”

Source: Scottish Construction Now

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