Social housing consortium JV North is spending £104.3m on building 905 new homes in the North West over the next four years.
The Homes & Communities Agency's Affordable Homes Programme contributed £20m to the total which will see 905 homes built for families across Greater Manchester and Merseyside by March 2015.
Consortium members include New Charter Housing Trust, Eastland Homes Partnership, Helena Partnerships, Liverpool Mutual Homes, Parkway Green Housing Trust, Trafford Housing Trust, Weaver Vale Housing Trust and Willow Park Housing Trust.
Of the 905 homes, 744 will be made available at affordable rent rates and 161 will be shared ownership units. The £20m HCA investment will be distributed to JV North members using a pro-rata formula based on the number of homes being built:
- New Charter Housing Trust: 317 homes
- Helena Partnerships: 226 homes
- Liverpool Mutual Homes: 74 homes
- Parkway Green Housing Trust: 68 homes
- Trafford Housing Trust: 198 homes
- Weaver Vale Housing Trust: 22 homes
Trafford Housing Trust's Calder Court scheme is expected to be the first development with work due to start in January 2012 and completed towards the end of 2013.
Rob Young, chairman of JV North and chief executive of Helena Partnerships, said: "JV North has a proven track record of delivering high quality social housing and the HCA grant provides us with another opportunity to develop housing in the North West and cater for the high demand in the region.
"The next four years will see JV North members building modern, energy efficient homes for local people and the Affordable Homes programme will also allow us to extend the range of tenancy options making housing available to more people in our communities.
"The homes will be offered to new tenants at affordable rent rates and being able to offer more shared ownership homes will play a crucial role in helping people get a foot on the housing ladder."
Deborah McLaughlin, executive director North West at the HCA, said: "This agreement is excellent news as it will lead to the delivery of vitally important new homes and make a great difference to the lives of many families across Greater Manchester and Merseyside.
"We have worked closely with JV North over recent months to make sure that the programme brings the maximum benefit for local people. But in many ways, the hard work starts now – and we will be focused on ensuring that people in the North West see the benefits of our investment over the next four years."
JV North was formed in 2007 by a group of housing associations, mainly created by large scale stock transfers, based in the North West. The company was set up primarily for development purposes in order to create economies of scale and efficiency through the shared procurement of new house building projects.