Over the new five years, the housing association – which is part of Wheatley Group – will spend £46m on more than 450 new, affordable homes.
An additional £8million will go towards improvements to more than half of its existing 1,200 properties in the central belt.
The programme to deliver the 450 new homes is already under way, with 47 properties completed in Falkirk and Glasgow.
Building work has started on two sites in North Glasgow which will provide more than 100 new homes in the next year, with another eight sites in Glasgow and North Lanarkshire in the pipeline.
Loretto's new-builds cover a range of supported and adapted accommodation, and include housing for both social and mid-market rent, to meet the broadest spectrum of needs within its communities.
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In the next year, improvement works to existing homes will include the installation of new kitchens, boilers, bathrooms, windows and doors.
Over the course of the five years, around 113 properties in Grangemouth and Falkirk; 287 homes across Renfrewshire and West Dunbartonshire; 234 properties in Glasgow; and 242 in North and South Lanarkshire will benefit from the improvements.
And by the end of the programme, all Loretto customers will have modern kitchens and bathrooms as well as whole house heating to help save on fuel bills.
In a statement released by LHA, one of their residents, 58-year-old David Smith (pictured), from Johstone, said: "I'm really chuffed. I've lived here for 20 years and we recently got a new boiler installed.
"We're already saving money on our fuel bills. Loretto is spending a lot of money on homes and it is money well spent. I'm sure any tenants who are due to get work done over the next year or so will be excited – and rightly so."
Loretto Director Cathy Fallon also said: "This significant investment will see real improvements for existing tenants, and those improvements are based on their feedback.
"The 450 new properties will offer even more people the option of affordable homes that are not only comfortable and spacious; but also energy efficient and modern.
"We have had great feedback from tenants already enjoying the benefits, which is fantastic as we want them to be proud of their homes and communities."
(MH)
