The funding, which for the first time saw cash handed to contractors as well as housing associations, formed part of a £1.28bn tranche of first round grant awards under the 2016-21 Shared Ownership and Affordable Homes Programme.
Among the housing contractors securing Government support for the first time Kier bagged nearly £42m to deliver 1,378 homes, plus 335 associated but non-funded affordable homes..
Galliford Try was awarded almost £19m for 530 affordable homes, Keepmoat bagged nearly £18m for 439 homes and Lovell secured over £11m for 420 homes.
Private builder Westleigh Developments was also allocated £48m of grant to build 1,590 new homes under the programme.
The first round of cash hand-outs were unveiled as the Government invited bids for a further £4.7bn of funding to increase the supply of new shared ownership and affordable homes.
The pot of cash consists in part of £1.3bn not allocated at the initial SOAHP bid round and an extra £1.4bn announced in the Autumn statement to deliver a further 40,000 affordable homes.
The Government is encouraging bids from organisations other than housing associations and is encouraging off-site construction solutions.
The Rt Hon Greg Clark MP Secretary of State for Communities and Local Government, said:”We’ve reformed the rules to make these homes available to the widest possible range of buyers – and to make the capital grants open to widest possible range of developers and housing providers.
“We also aim to encourage innovation – both in partnerships for local housing delivery and in the use of advanced construction technologies.”
In the next round of bidding affordable rented homes can be included as part of mixed-tenure sites to help underpin the swift build-out of those sites, accelerating overall new supply.
Although the Government has stipulated that the majority of expenditure allocated within the Programme will support home ownership, through both Shared Ownership and Rent-to-Buy.
Interest firms can obtain further information about bidding through the Homes and Communities Agency’s Investment Management System by telephoning 01908 353604.