The Homes and Communities Agency has signed off on a four-year deal with Basignstoke-based Sentinel Housing Association to provide 300 new affordable homes.
The £50m contract will see the HCA invest £5m with the rest provided by Sentinel to deliver 300 homes on sites from Andover to Aldershot.
The deal is among the first to be signed under the HCA’s affordable homes programme which is set to deliver 80,000 new affordable homes across England by 2015.
HCA executive director for the South and South West Colin Molton said: “This agreement is great news as it will see much needed new homes delivered in North Hampshire and make a significant difference to the local communities in which we work.
“Our local teams have worked closely with Sentinel over recent months to ensure that its programme brings the maximum benefit for local people. But in many ways, the hard work starts now - and we will be focused on ensuring that people in North Hampshire see the benefits of our investment over the next four years.”
The package will see 302 new homes – including 187 for rent and 115 for shared ownership – developed on various sites across North Hampshire.
Sentinel Chief Executive Martin Nurse said: “We want to provide as many new affordable homes as possible, and this is an important first step. The investment allows us to progress our plans for regeneration, provide better supported Housing, and increase rural homes.
“We are working on innovative funding models in the current economic climate, and expect to announce the delivery of many more homes in the near future.”