The new funding through the Housing Infrastructure Fund (HIF) will support schemes in London, Central Bedfordshire and Essex to address high demand for new housing.
In total, these projects will deliver up to 50,000 homes across the country.
Announcing the funding, Chancellor of the Exchequer Rt Hon Sajid Javid MP said: "I want to see more homes built in the places people want to live, so more people realise the dream of homeownership.
"But we need the roads, rail links, and schools to support the families living in those homes, which is why I set up a fund to put in place the infrastructure to unlock new homes in these areas.
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"And today I'm announcing hundreds of millions in new investment, helping more people get on the property ladder and allowing more communities to flourish."
Housing Secretary Rt Hon Robert Jenrick MP added: "I am determined to help people make the dream of home ownership a reality and this investment of over half a billion will unlock thousands of new homes by providing essential infrastructure.
"To build more, we need to provide the infrastructure and public services to match. This package will support existing communities and ensure they receive the roads and schools to sustain the homes being built.
"Last year we built more new homes than any other year bar one in the last 30 years. There's more to do and I will be focusing relentlessly on getting Britain building."
The HIF is designed to support local authorities that want to step up their plans to increase the overall housing supply, make more land available for housing, and deliver new physical infrastructure that supports new and existing communities.
Since it was launched Mr Javid when he was Secretary of State for Communities and Local Government, £1.3 billion has been allocated to deliver up to 76,500 homes.
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