The Cambridgeshire and Peterborough Combined Authority has agreed to work with a coalition of 15 housing associations to deliver up to 40,000 affordable homes.
It will use a grant of £170m to work with Homes for Cambridgeshire and Peterborough, which collectively owns and manages 48,277 homes.
The combined authority wants to build at least 2,000 additional affordable homes by 2021 and 40,000 by 2038.
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