Orbit has been successful in its bid to form a strategic partnership with Homes England. The partnership will provide grant funding for an additional 2,762 much-needed new affordable homes to be in development by 2022. The partnership, with a funding package of £129m, was announced as part of Monday’s budget statement that outlined further government investment to build more homes.
Mark Hoyland, Chief Executive at Orbit, said:
“We are delighted to have agreed this new partnership to support our long-term ambition of delivering 20,000 new homes over the next 10 years. The partnership recognises this ambition and our commitment to lead in building thriving communities. We look forward to playing a pivotal role in supporting UK housing growth.”
The announcement comes on the back of strong annual results for 2017/18, which saw Orbit deliver 2,030 new homes and invest £3.8m in supporting the wellbeing of customers and communities.