L&Q, Trafford Housing Trust and Willmott Dixon have formed a joint venture to develop Homes England’s D’Urton Lane in Preston, Lancashire.
The vehicle, called Laurus Partnership Homes, will deliver a £47m development, comprising 250 homes as shared ownership, affordable rent and private sale.
More than half will be affordable, offering a mix of two-, three- and four-bedroom homes.
The development will target downsizers and first-time buyers through the Help to Buy initiative.
Laurus Partnership Homes will use off-site manufacturing to increase the speed of delivery.
L&Q is currently in talks to acquire housing