Redrow, Liverpool Mutual Homes and contractor Willmott Dixon have been appointed by Liverpool City Council to form a housing consortium to deliver 1,500 new homes and bring a further 1,000 back into use.
The Building Our Future partnership will run for an initial five years, 2014 to 2019, with the option to extend for a further five years.
Redrow will develop housing for sale and will identify and acquire land to enhance the council's own development sites. LMH will develop affordable housing by investing its own funding and by attracting grant funding. LMH will also be seeking to bring 1,000 empty properties back into use.
Willmott Dixon will work on behalf of LMH to build new homes and refurbish properties.
Liverpool City Council will provide strategic planning and housing need information, as well as selling surplus land to the partnership for development. However it will not underwrite the works and the partners will have to put in their own funding.
Any capital receipts generated by the sale of council sites and assets will be reinvested back into the partnership.