Contractor will begin work on 2,400-home Gateshead scheme by the end of the year
Galliford Try has reached financial close on a £347m housing scheme to build 2,400 homes in Gateshead.
The contractor will form a consortium with Gateshead Council and housing association Home Group to form a Local Asset Backed Vehicle to construct the scheme.
Work will start later this year and continue over the next 15 years.
Galliford Try chief executive Greg Fitzgerald said: “We are delighted to have reached an agreement with our partners to build this much-needed housing in the Gateshead area.
“We believe that this new local asset backed model with Gateshead Council and Home Group represents an innovative solution to enable Galliford Try and its partners to significantly improve affordable homes supply and sustainable communities in the North East.”