The consortium brings together Miller Construction (new build), Keepmoat (refurbishment), Lovell Respond (facilities management, including repairs, ground maintenance and cleaning) and Equitix (funding). Solutions 4 North Tyneside will be awarded a 28-year contract that will also see the team oversee ongoing facilities management of the property.
The council has also agreed the timescale for achieving financial close - when the finance can be raised - so that building work can begin on the ground from October.
This will mark the start of a 35-month project that will deliver 922 sheltered homes for the borough's older residents in 16 refurbishment schemes (572 units) and 10 new-build schemes (350 units).
All of the homes will be delivered to a high level of sustainability with building materials and insulation levels aiming to achieve a level 4 minimum BREEAM excellent rating.