Kier Living has launched a joint venture model with a housing association in the North of England with the aim of building 1,000 homes a year.
Northern Ventures, will be in partnership with housing association Together Housing Group and will develop mixed-tenure housing projects across the North-west, Yorkshire and the Humber.
The JV has already confirmed its first new development site: a 113-home scheme in Huddersfield.
In total, Kier Living and THG want to see output hit 1,000 units a year within three years.
Its joint venture model will allow registered providers to “share activity and transfer risk” across multiple sites, according to Kier Living.
The contractor has created a senior Northern Ventures team to manage the JV, and hopes the model can target both private landowners and the public sector.
Kier Living North managing director Paul Moore said the JV would allow Kier Living and THG to “look at larger-scale opportunities”.
“We are looking at a joint venture model that provides a longer-term sustainable relationship with a 3-5 year business plan, giving both partners diverse and sustainable benefits,” he said.
In May this year, Kier Living launched a £1bn housing fund, in partnership with Cheyne Social Property Impact Fund and the Housing Growth Partnership, which is a JV between Lloyds Bank and the Homes and Communities Agency.
This partnership will develop homes on local authority land, giving councils the option of delivering properties for sale or rent at discounted rates, while up to 50 per cent of each site will have affordable development opportunities.
In 2014, Kier Living MD John Anderson told Construction News the firm had ambitions to build 500 homes a year in the North by 2019, focusing on Manchester, Leeds and Newcastle.