If successful in their bid, companies will see deals extended from March 2024 until March 2029. They are expected to demonstrate how they can achieve ambitious plans to build affordable housing and contribute to the wider new build supply the country needs.
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Applicants are also urged to address Homes England's strategic priorities, including the use of brownfield sites for development, engagement with local SME contractors, working with smaller housing associations and the use of Modern Methods of Construction.
Chairman of Homes England Sir Edward Lister said: "The £1bn in additional grant funding will give our strategic partners more flexibility and longer term funding certainty so that they can build the affordable homes their communities need over the next 10 years. I welcome today's news and urge our housing association partners across England to get involved."
The funding is part of a £2 billion affordable housing package announced by the Prime Minister in September 2018.
