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Wirral's largest housing association, Magenta Living, has secured £77 million of funding to help build 1,300 new homes by 2030.
The money includes two new deals worth a combined £22 million, the Liverpool Echo reports.
They are:
- A £12 million loan from the Charities Aid Foundation Bank (CAF Bank), which will be used to build homes for social rent
- A £10 million loan from Danske Bank, its first housing association deal in the Liverpool City Region
The CAF Bank loan is aimed at energy-efficient homes with an EPC rating of B or above, including 94 "green homes" in Birkenhead.
Paul McGrady, Magenta Living's chief finance officer, said: "We are moving quickly to put our capital to work on building new properties and refurbing homes.
"The success of our funding round is also a vote of confidence in Wirral, and we will be returning to market again to further fund our ambitious programme."
As for where exactly the homes will be built, a spokesperson for Magenta Living told Wirral Today: "“We have a clear target to build 1,300 new homes by 2030 and have over 300 new homes already in the pipeline."
The housing provider confirmed they have a "Wirral-First strategy", and said "over 90%" of the homes will be built across the Wirral. Areas listed include Birkenhead, Bebington, West Kirby, Tranmere, Rock Ferry, Oxton, Eastham, Seacombe and Bromborough.
Iain Smith, relationship director at CAF Bank, said the commitment to energy-efficient homes would help keep costs down for Magenta Living's tenants.
Terri McCullagh, relationship director at Danske Bank, said the deal would "help deliver its ambitious development programme and investment plans".
Earlier this month Magenta Living started building Oxton's first social housing development in more than a decade.
In July it secured £40m of financing for 50 new homes.
