Preston-based Places for People, one of the country's biggest housing organisations with £3bn of assets, said it intends to explore joint venture development opportunities with Urban Splash, from which it acquired assets in July.
The social landlord acquired 654 apartments from Urban Splash in a £77m deal in July, helping troubled Splash clear debt.
The first development would be at Park Hill where Places for People is expected to work with Splash to fit out unfinished apartments in the large renovation scheme, among shortlist for the Stirling Prize which will be handed out tonight.
David Cowans, chief executive of Places for People, said in a statement: "Working with Urban Splash makes absolute sense for us and is a further commitment to providing an even greater choice and access to high quality, affordable and sustainable housing. We are very pleased to be able to work with Urban Splash, initially on the innovative development of Park Hill in Sheffield, and we will be looking at further opportunities to develop schemes within the Urban Splash and Places for People portfolio in the future."
Places for People produced an operating profit of £17m last year on turnover of £380m.
Tom Bloxham, chairman of Urban Splash, said: "This announcement is great news for Urban Splash. Places for People and Urban Splash have many shared values, and great reputations for regeneration, placemaking and great architecture. Urban Splash has an enviable track-record having developed over 60 schemes and won 348 awards over the last 20 years.
"Looking forward, we are keen to undertake more projects in partnership and are very pleased to be able to work with a company of the quality, stature and size as Places for People. We are looking forward to creating more award-winning homes with them."