Up to 1,300 new affordable homes will be built across Hampshire, after a consortium of housing providers successfully secured investment from the Government.
The Wayfarer Partnership - a consortium of eight different housing providers - secured the deal with the Homes and Communities Agency (HCA) as part of its Affordable Homes Programme, which is set to deliver 80,000 new affordable homes across England by 2015.
The HCA will invest in the region of £20m to develop almost nearly 1,600 new affordable homes across the South of England, including 1,300 new affordable homes in Hampshire.
The project comprises 120 new homes in Surrey and more than 70 new homes in Berkshire, alongside new homes in parts of Sussex, Wiltshire and Dorset.
Colin Molton, HCA executive director for the South and South West, said: "This agreement is great news as it will see much needed new homes delivered and make a significant difference to the local communities in which we work.
"Our local teams have worked closely with the Wayfarer Partnership over recent months to ensure that its programme brings the maximum benefit for local people. But, in many ways, the hard work starts now, and we will be focused on ensuring that people see the benefits of our investment over the next four years."
Claire Virginie, head of Wayfarer, commented: "Wayfarer is delighted to be amongst the first consortia in the country to sign a Framework Delivery Agreement with the HCA. Our four year framework will provide a total of 1,598 much needed homes for affordable rent and sale across the south of England."
The HCA's investment has been warmly welcomed after plans for 2,000 new homes on Winchester fields on the edge of a Hampshire city were rejected last month.
Cala Homes has wanted to develop the 230-acre site in Winchester - known as Barton Farm - since the late 1990s. But the council decided to vote against the plans, despite the fact that the planning inspector had recommended the plan for approval.