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The Homes and Communities Agency (HCA) has invested more than £1 billion to build affordable homes in England.
The milestone was reached last week after 14 developers, including Affinity Sutton and Quadrant Housing Trust, successfully bid for funding from the HCA's Affordable Homes Programme (AHP).
In total, the HCS has now signed 74 deals as it looks to reach its target of delivering 80,000 new affordable homes by 2015.
Pat Ritchie, chief executive of the HCA, claimed that the milestone shows that the appetite for building new homes is "far from diminished" despite the current economic climate.
"We will continue to work with and support providers to maintain the momentum generated by the Affordable Homes Programme, delivering much-needed affordable homes and boosting local economies in the process," he said.
"We are well on track to see the majority of contracts signed by the end of this year."
From 2011 until 2015, the HCA will invest £4.5 billion in affordable housing through the AHP, with the majority of these funds made available as Affordable Rent.
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