JV North is to build 1,552 more properties in the Shared Ownership Affordable Homes Programme [SOAHP] – a 56% increase on its original allocation in 2016.
In total, the North West consortium will build 4,310 homes by 2021 compared to 2,758 it originally set out to deliver.
The £87.3 million grant it received in 2016 has now increased to £138.9 million after successful bidding via Homes England’s Continuous Market Engagement.
JV North Chairman, Nigel Wilson, said: “There is a clear need to build more high quality homes quicker than ever before and our members are answering the call.
“Increasing the number of homes by over half is an incredible commitment and makes it one of the biggest grant-funded development programmes in the country.
“We already had an impressive track record of delivery, building the equivalent of one home every working day since forming in 2007 and this improves on the position further.
“In many ways, the hard work starts now and it will take a concerted effort to build this many properties in a relatively short period of time but it is a challenge members are embracing and fully confident of meeting.”
JV North members are building properties for Shared Ownership, Affordable Rent, Rent to Buy and Specialist Housing for Rent.
The additional homes takes JV North and Homes England’s combined investment through the £1 billion mark since the consortium formed 11 years ago.