Urban Splash is hoping to counter the downturn in the private housing market by stepping up its involvement in social housing, after joining the Housing Corporation's official list of accredited homebuilders.
Accreditation allows developers to apply for grant funding in order to deliver low-cost housing for sale or rent.
In Splash's said: "We have successfully applied for accreditation from the Housing Corporation which will allow us to provide even more affordable housing."
Further details of the first schemes to be affected by Splash's new status have not been released.
The Housing Corporation this week relaunched as part of the new Homes & Communities Agency, merging with English Partnerships and certain functions of the Department for Communities & Local Government.
Splash is currently carrying out redundancy consultations across the group. It recently confirmed 60 job losses out of around 280 staff.