Housing association agrees largest funding package yet to build 3,689 homes

Housing association Sanctuary has been awarded almost £90m in funding for new homes under the government’s Affordable Rent programme.

The award, the largest single funding allocation agreed by the Homes and Communities Agency so far, will see 3,689 homes built across the country.

The biggest single region to benefit is the Midlands, which will receive £28.9m of grant to enable construction of 1,078 homes.

The deal with Sanctuary is one of five contracts signed by the HCA and housing associations this week, totalling £132m of spend. Other beneficiaries are Housing 21, Leazes Homes, Paragon and Synergy Housing Group.

The allocations will see 6,669 homes built in total. The deals see the total amount of funding now agreed between the HCA and registered providers reaching £845m, enabling the construction of 42,098 homes in the next four years.