The Gibraltar government said that the absence of a private developer meant that 275 affordable homes earmarked for sale could be sold at cost. It also meant that the government could monitor building standards, in accordance with a manifesto commitment.
Members of the Pell Frischmann team, which includes project manager GVA Grimley, architect HTA and quantity surveyor Davis Langdon & Everest, met Gibraltar's first minister last week to discuss the scheme in detail.
The team aims to complete outline design by early summer, with construction scheduled to start in the autumn.
In addition to the 275 affordable homes, the scheme will include 150 flats for rent to pensioners and 150 for rent to people on government waiting lists.
Run by the Devanha Social Housing group, the project will involve the design and construction of up to 300 homes. The winning consortium will work on a number of sites for several registered social landlords.