The largest provider of affordable homes in the North West, Torus, has entered into a seven year deal with Castle Green Homes that will see Torus investing £150m in new affordable homes in Congleton, as well as Crewe, Daresbury and Thornton.
A total of 589 homes will be available for mixed tenures across four sites, including Viking Way, Congleton.
The seven-year deal will deliver 589 affordable rent or shared ownership homes at the sites, which also include Bridgewater View in Daresbury, Flowers Lane in Crewe, and Orchard Place in Thornton.
Chris Bowen, managing director at Torus Developments, said: “This partnership is exciting for a number of reasons.
“First of all, it represents our commitment to working closely with Castle Green Homes as a key partner for the next few years, but secondly it highlights our dedication to investing, long term, in building great, affordable homes in schemes of sufficient scale to transform places.
“It is the type of partnership we are seeking with volume house builders to help boost supply with greater confidence in delivery.
“Over the years, we have grown our development pipeline and I am thrilled to now be heading up a team delivering large-scale schemes and building thousands of new affordable homes in the next few years.”
Eoin O’Donnell, partnerships director for Castle Green Partnerships, part of Castle Green Homes, said: “We are proud to have established strong links with Torus to deliver much-needed high-quality affordable homes over the coming years.
St Helens based Torus is a housing association and the parent organisation of Liverpool Mutual Homes, Helena Partnerships (in St Helens) and Golden Gates Housing Trust (in Warrington).
Its latest annual report said it had 21,589 homes in its portfolio, with a target of 22,000, and made a net profit of £5m.