Guinness and Stonewater have signed a strategic framework with Homes England to secure £224m of government loans for the two organisations to begin building 4,500 affordable homes by 2022.
The partnership is the largest of the deals recently announced by Homes England with housing associations. Homes England has now secured 23 partnership deals with 28 housing associations, providing loans of £1.74bn.
Stonewater chief executive Nicholas Harris said: “In politically uncertain times, funding from Homes England adds to Stonewater's already significant development programme and brings us closer to our vision of everyone having a place to call home. We welcome the government's commitment to tackling the housing crisis and this is a great example of how collaboration within the sector can help deliver that promise.”