Orbit Homes secures £13.5m to fund 600 new homes
Posted on: 16/12/2015

Property developers Orbit Homes have successfully secured roughly £13.5mn through the Homes and Communities Agency (HCA), and will be able to provide over 600 new properties across the midlands.

The properties will fall under the 2015-2018 Affordable Housing Programme, and are due for completion by March 2018. Orbit Homes, who are part of the 39,000-home Orbit Group, was awarded £11,940,500 to develop 526 homes, whilst a further £1,537,000 was secured through an agreement with contractors Westleigh Partnerships to fund an additional 106 houses. Overall, the total funding investment was £13,477,500 for 632 new houses.

Having already built over 3,400 houses in the last two years, Orbit plans to build a further 12,000 by 2020, all of which will be available through a mix of affordable rent and shared ownership.

Chris Jones, development director for Orbit Homes, said: “Orbit Homes is delighted to have secured this funding to enable the build of more affordable homes for our customers in the Midlands. As the fourth largest developing housing association, we are committed to building the homes this country so desperately needs.

“We have built a strong partnership with the HCA over the last few years, and see this funding award as a demonstration of its continued confidence in our ability and commitment to delivering quality housing solutions across the country.”

Through the Affordable Housing Programme, Orbit has received funding for previous projects; almost £28mn for 1,755 houses, and a further £56mn from the Greater London Authority for an additional 264 homes in 2014.

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