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Large London housing association Metropolitan Thames Valley Housing (MTVH) has announced a new joint venture with national house builder Bovis Homes.
The agreement will see the pair deliver 783 homes at the £240m Cambourne West development near Cambridge.
That figure will include 235 affordable homes for affordable rent and shared ownership, with the other 70% for private sale.
Bovis and MTVH will also spend £40m agreed through a Section 106 planning deal on expanding the local secondary school and building two new primary schools.
Building work is expected to start in February.
It is the latest housing association joint venture launched by Bovis, which entered an agreement to deliver 2,000 homes with LiveWest last month and a 3,600-home deal with Riverside in April.
The builder launched a new housing association partnerships division this year as well as buying the housebuilding arm of construction giant Galliford Try for nearly £1.1bn.
Greg Fitzgerald, chief executive of Bovis, said the acquisition would make it the “partner of choice” for affordable housing providers.
Richard Evans, director of innovations and partnerships at MTVH, which owns 57,000 homes, said: “MTVH is about more than building homes. We also build and invest in people and communities for the long term.
“This new joint venture with Bovis Homes gives us a fantastic opportunity to do this at scale, ultimately helping more people.”
John Lougher, strategic land managing director at Bovis, said: “We are delighted to announce the joint venture with MTVH to deliver much-needed homes in the area and look forward to working closely with them.”
The private homes will come from Bovis’ new Phoenix blueprint, which are designed to be adaptable for disabled people and more efficient to build.