The new homes are in addition to the 1,745 already planned in its 2015/18 Affordable Homes Programme. The 25% increase follows an additional allocation of 拢13.4m from the Homes & Communities Agency (HCA).
JV North is made up of 10 social housing landlords in Lancashire and Merseyside, who are adding an extra 拢30.8m of investment from their own resources for the increased build programme.
Members - made up of landlords in Greater Manchester, Liverpool and Preston - will supplement this with.
It means that overall, JV North will now build 2,174 homes in the 2015/18 programme and has received grant of 拢48.2m from the HCA. In total, consortium members will invest 拢192.7m and the programme value is now 拢240.9m.
Latest figures show that JV North has completed 220 new homes so far in the 2015/18 Affordable Homes Programme (representing a spend of 拢16.3m) and consortium members have started on site building a further 671 properties.
JV North chairman Nigel Wilson, who is also chief executive of Wythenshawe Community Housing Group, said: 鈥淭he speed at which members are delivering homes in the 2015/18 Affordable Homes Programme is excellent. Even better news is that our ability to deliver and commitment to building has been recognised by the HCA and we鈥檝e received additional grant of 拢13.4m to build 429 more homes 鈥� a really significant increase.
鈥淚t stems from good management and delivery that spans many years. Members completed their allocations ahead of schedule in the 2011/15 programme and this enabled them to drawdown funding early in this round, which is why 220 homes have been completed already.鈥�
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