Orbit Homes has received in excess of £33.5million funding to enable the delivery of over 2,000 new homes through a range of affordable housing options.
The funding was announced earlier today [22 July] by the Homes and Communities Agency (HCA) and Greater London Authority (GLA) as part of the 2015-2018 Affordable Housing Programme. £27,928,500 of funding from the HCA will enable the delivery of 1,755 homes; whilst the GLA allocated a further £5,640,000 to create an additional 264 homes.
The 2,019 homes to be delivered as a result of this funding will be available through affordable rent, shared ownership and a range of other affordable housing options.
The HCA funding was received in two operating areas - the Midlands and the East and South East, with the GLA funding allocated in Greater London, Bexley and Sutton.
These new homes will contribute towards Orbit Group’s ambitious target of delivering 12,000 homes by 2020.
Paul High, Executive Director Orbit Homes, commented: “We are delighted to have received this funding which will enable us to fulfil our long term vision of providing the homes this country needs.
“We believe this funding allocation demonstrates the confidence the HCA and GLA have in Orbit to deliver the projected homes. We intend to build on our existing strong partnerships with both agencies and look forward to continuing to provide a range of housing solutions.”