The JV North consortium has submitted a bid to the Homes and Communities Agency (HCA) for 327 homes through the Continuous Market Engagement (CME) programme.
If successful, it will see JV North move closer to building 2,000 properties in the 2015/18 Affordable Homes Programme.
The consortium – made up of nine landlords in the North West and one in the Midlands – was initially awarded grant of £34.8 million to deliver 1,745 homes from the £1.7bn 2015/18 budget.
Members are collectively investing £161.9 million into the programme.
And latest figures show JV North has already started on site building 272 units.
JV North Chairman Nigel Wilson, who is also Chief Executive of Wythenshawe Community Housing Group, said: “Having taken time to consider the wide ranging impact of the 2015 Budget, JV North members are focusing on their core purpose – building much-needed affordable new homes.
“Despite the challenges of the summer Budget, which can’t be underestimated, we have renewed our commitment and have made a significant bid for grant support from the HCA for 327 more homes through the CME programme.
“The bid offers a range of tenures including affordable home ownership and affordable rent and directly responds to the challenges set out by the Government.
“While doing this, we have to be mindful of aspects of the Comprehensive Spending Review that did not grab the headlines that will impact on our development capabilities, which we are still assessing.
“For example, the benefit cap change and the relationship with local housing allowance which in places will result in even less resources being available for development.
“We need to address these issues because the one indisputable fact is that we need to build a significant number of homes to meet demand.”