Following discussions with Bloor and Sanctuary during the summer, support was given by the Housing Corporation to a wide range of proposed schemes.
Allocations have since been made to Sanctuary to fund 335 homes (mostly for affordable rent) across the country at a total social housing grant cost of £13m.
The Housing Corporation is now in discussion with Bloor Homes about the submission of a next stage National Clearing House bid for some 700 homes which, if successful, will stimulate further construction activity which might otherwise not have proceeded.
Housing Corporation Director of Investment Richard Hill said: "The Housing Corporation is very pleased with the successful outcome of this early National Clearing House bid, and the constructive working relationship which has been forged with both Bloor Homes and Sanctuary Group. It is exactly what we were looking for when we launched this process.
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"The successful outcome of the initial bid will now allow us to move on and consider bids to build out schemes which may not otherwise have gone ahead - maintaining affordable housing supply and retaining capacity within the construction industry."
Sanctuary Group Chief Executive David Bennett said: "In this climate of economic change, housing associations need to find creative ways to increase the provision of much-needed affordable housing.
"The innovative deal has allowed Sanctuary to provide more affordable rented housing and will benefit all the parties involved including, most importantly, those in need of new homes. We believe this type of arrangement will provide a balanced solution to the supply and demand for new housing."
Bloor Homes Group Head of Affordable Housing Ken Allen said: "Bloor Homes is delighted with the relationship it has forged with the Housing Corporation and Sanctuary Group in progressing phase one. We have been most impressed with the speed of decision making and the approval process of all parties.
"This excellent working relationship and the ability of all involved to remain flexible in their approach, has been a key factor throughout. Facilitating the delivery of 335 affordable homes across 19 sites, located throughout the country, was certainly aided by the use of the National Clearing System, which gave us a central focal point to co-ordinate our discussions."
(GK/JM)
