Link Group bought the 22 acre Dalmarnock Riverside site from Clyde Gateway to continue with its £65 million six year investment programme of Glasgow's East End.
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Housing Minister Margaret Burgess MSP said: "The Scottish Government has provided £181 million to Glasgow City Council over the last three years for its affordable housing supply programme.
"This allowed the council to fund Link Group Limited’s acquisition of the Dalmarnock site for affordable homes."
Roy Stirrat, Chair of Link Group, said: "We are delighted to have been supported by the Scottish Government and Glasgow City Council to enable us to lead on the Dalmarnock Riverside development.
"This regeneration project will provide high quality cross -tenure housing opportunities for Glasgow's East End."
(LM/CD)
