The £2.3 million Brickfields development on Cefndy Road is backed by the Welsh Government’s innovative Housing Finance Grant (HFG) scheme.
The investment is helping transform a former ITT factory site into 24 homes consisting of 16 houses and eight flats – which will be managed by Wales & West Housing.
The £120 million Housing Grant Scheme scheme will create 1,000 additional affordable homes throughout Wales by providing £4 million each year for 30 years to 19 Registered Social Landlords (RSLs).
Jane Hutt said: “The Welsh Government is committed to delivering quality, affordable homes and the Brickfields development in Rhyl will help make a real difference to the lives of people who live in them and the community as a whole.
“It is also playing an important role in providing a boost to the local economy through jobs and training opportunities.”
This innovative funding is used to assist with the repayment of private finance to fund the creation of new, affordable, housing developments.
Shayne Hembrow, Deputy Chief Executive and Commercial Director of Wales & West Housing, said: “We are delighted that the Minister has included a visit to Brickfields on her budget tour.
“We contracted Anwyl Construction to build 24 homes, 16 houses and eight flats, on the former ITT factory site on Cefndy Road.
“This has not only improved the area, but has provided an answer to the need for affordable housing in Rhyl as well as boosting the economy and giving the local community work and training opportunities.”