Karbon Homes and believe housing have worked together to unlock Government funding for 115 new social and affordable homes across five sites in County Durham.
The £28.5m investment will help meet demand for affordable housing in the North East.
The homes are being part-funded by Homes England through Karbon Homes’ strategic partnership with the agency.
This allowed believe housing to access £10.8m from Karbon’s allocation after funding through the Affordable Homes Programme 2021-2026 had been fully allocated.
Most homes will be for social rent, with the rest for rent to buy and Shared Ownership.
Faye Gordon, executive director of finance and investment at believe housing, said: “Diligent work and ambitious thinking, underpinned by a shared commitment to meeting local housing needs, has enabled this partnership with Karbon; unlocking vital funding at a critical time and allowing us to move forward with construction.
“As a not-for-profit landlord, grant funding is essential to help us deliver new social and affordable homes that enhance communities and improve outcomes for residents.
“Investment in affordable housing isn’t just about building homes; it supports local jobs, strengthens the economy, and helps create healthier, more connected communities. Every pound spent delivers lasting value.”
Sarah Robson, executive director of development and asset management at Karbon Homes, said: “There’s a significant need for more affordable housing in Durham, and as housing associations working in partnership, we can boost the number of new homes we can deliver in the region, to help meet the growing demand.
“These schemes from believe housing are fantastic examples of building to meet the needs of the local community with a mix of rent and affordable home ownership options.
“believe housing was able to take advantage of the grant funding available to Karbon at a time when wider grant funding was not quickly available.”
Robson added: “As partners we’ve managed our development pipelines to ensure construction can quickly move forward and I look forward to seeing these new homes progress over the coming months.”
Kate Abson, director of assets and development at believe housing, said: “This is a great example of what can be achieved when organisations work together to find solutions.
“These developments were ready to go, and by collaborating, we’ve been able to secure the funding needed to move forward and deliver high-quality, affordable homes for these communities.
“It means we can provide more of the right homes, in the right places, to help meet people’s needs and ambitions; not just now, but for the future too.”
