The partnership will work for Hull City Council under a contract to design, build and manage three extra care schemes for the city council.
As preferred bidders for the project to deliver 300 extra care apartments they will work up details of the project ahead of a contract being signed in October with building work following soon after.
Joanne Jamieson, Wates’ regional managing director, said: “Our role in this project is testament to our experience and ability to deliver high quality, comfortable homes in a safe and secure environment that enable vulnerable residents to live independently.
“We look forward to working alongside Riverside to deliver upon their commitment to Hull City Council and the city’s communities.”
Wates is expected to complete the project by 2016.