The joint consortium, which goes by the name of KSHP, includes Keepmoat and Strata Homes along with affordable housing provider Home Group and commercial property specialists Priority Space.

It aims to deliver one of the city’s largest, most wide-spread and longest housing regeneration programmes, attracting £500m private investment to the area over 13 years.

KSHP will use council land to build needed new homes, create local jobs and 300 apprenticeships over the development phase.

The partnership has a target of delivering 85 per cent local labour.

A mix of social housing, including new council houses, homes for open market sale and shared ownership will be delivered through the partnership.

The identified sites includes land owned by Hull City Council in Preston Road, land west of Wawne Road and land at Cottingham.

The first scheme to build 236 council homes will start in spring on cleared sites within the Preston Road area, partly funded by the Homes and Communities Agency’s affordable housing programme 2015-18.

Mark Knight, Managing Director for Keepmoat Homes Yorkshire, said: “We are delighted to be part of this major transformational project; we have been committed to the city of Hull for a number of years and are proud to be able to continue this for many years more.”

Andrew Weaver, from Strata Homes Limited, said: “We have very much enjoyed our experience at Amber, Boothferry Park, over the last three years and have found the city of Hull and its people upbeat and receptive to our design led approach.”