Housing association Torus has confirmed plans to invest £750m in development following its appointment as a strategic partner by Homes England, which has seen Torus awarded £66m in funding.
The Homes England Strategic Partnerships Wave 2 initiative is designed to give housing associations the investment and flexibility they need to significantly increase the supply of new homes.
Torus said that it intends to accelerate its new-build delivery programme of 5,300 affordable homes for rent and future home ownership over the next five years across the North West.
Torus group chief executive Steve Coffey said: “The Homes England strategic partnership will have a massive impact on our new build plans for the next five years.
“The partnership funding will see our development programme grow by 29%, which will mean wider housing options and additional new homes built across the North West, especially in our heartland areas of Liverpool, St Helens and Warrington.”
The Torus group, which includes housing providers Helena Partnerships and Golden Gates Housing, was merged with Liverpool Mutual Homes in 2018 to create one of the North’s largest housing organisations.
In all, eight housing associations, also including Your Housing Group, received a share of £497m, covering around 11,000 new-build homes. Apex Airspace Developments received £9m for 79 rooftop homes across London.