More than 600 homes will be built in Plymouth thanks to a new partnership between Plymouth City Council and Plymouth Community Homes.
The city’s biggest housing association and the local authority have teamed up for the agreement which will see construction of an initial 601 new homes, of which at least 444 will be for affordable housing.
The partnership will bring forward £95.7million of investment opportunities with the council providing land and £4.75million of financial assistance through the.
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PCH will bring land and £12.5million of subsidy to deliver the 601 new homes, with potential to deliver more homes as the partnership develops and further land and funding opportunities become available.
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The homes will include a mix of social and affordable rent, shared ownership and open market sale with a variety of house types including bungalows, flats and family homes.
There will be 292 social and affordable rented, 152 for shared ownership and 157 for open market sale.
The agreement was virtually signed by Cllr Chris Penberthy, cabinet member for housing and cooperative development and John Clark, chief executive of Plymouth Community Homes.
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Cllr Penberthy said: “I am delighted to be able to sign this agreement which I know with prove fruitful over the next few years.
“By signing up a formal agreement with our long-term partners PCH, we can ensure that we continue to deliver the right homes in the right locations for the people of Plymouth."
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Mr Clark added: “We already have a strong and positive working relationship with the city council and this agreement builds on that.
“We’re really looking forward to delivering these homes, which will be high quality in terms of design, build and materials and we’ll also seek to explore low carbon opportunities.”
As part of the agreement, PCH will also support the Resurgam programme to boost Plymouth’s economic recovery and support the Building Plymouth Programme by creating a number of new construction apprenticeships and enabling people to move into full-time employment.
Sites currently earmarked for development under the agreement include the site of the planned Boulevard between the city centre and waterfront at Bath Street West, Colin Campbell Court, West Park Hill and land at Bampton Road.
It’s hoped future sites will be included, delivering a potential 1,500 new homes in the lifetime of the agreement.