Kier Living has launched a new £1 billion housing delivery fund alongside the Cheyne Social Property Impact Fund and The Housing Growth Partnership.

The New Communities Partnership is supported by the HCA and will provide councils/housing associations with an 'innovative delivery model' to develop new homes on their own land.

Public sector organisations will work alongside the Partnership to determine the appropriate mix of tenure for their site, overall aiming to build 10,000 new homes across the UK.

The end-to-end development solution is tailored to each client and includes procurement, funding, site assembly, construction, sales, management and maintenance.

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Traditional developments have delivered an average 11% of 'affordable' housing over the past three years. However, the Partnership will have scope to offer up to 50% of each site for 'affordable' housing.

John Anderson, Executive Director of Kier Living, said: "We are excited by the establishment of this partnership which will focus £1bn of investment into the development of much-needed housing throughout the country. It will bring scale and momentum to Kier's tried-and-tested mixed-tenure housing delivery model, for public sector clients across the UK who hold land but don't have the capacity to develop new housing.

"Through this unique public private sector partnership with experienced finance and development partners Kier, Cheyne and the Housing Growth Partnership, we are collectively offering an end-to-end solution to building much-needed new homes."

Andy Hulme, CEO of The Housing Growth Partnership, added: "The Housing Growth Partnership was formed to address the challenge of housing supply and affordability in Britain today. Working alongside Kier Living and Cheyne Capital through the 'New Communities Partnership' should stimulate further growth in residential development projects and enhance access to affordable housing."

(LM)