Some 2,500 homes will be provided over the next 10 years in Cardiff and Vale after developer Lovell, Cardiff Council and Vale of Glamorgan Council signed a partnership contract.
At least 50% of the homes will be affordable properties available via social rent or shared ownership, and the remainder will be open market sale homes.
Construction work on the first project under the partnership is due to commence in December 2025, with the first properties due for occupation towards the end of 2026.
James Duffett, regional managing director at Lovell, said: “Completing contracts on such a significant residential programme is an incredibly proud moment for us at Lovell, and the beginning of what will be a very rewarding 10-year partnership.
“Cardiff has been our home for many years and this major investment by both Councils will be genuinely transformative.”
This project is Cardiff Council’s second housing programme, following the Cardiff Living scheme, and forms part of its wider development plans to deliver more than 4,000 new homes in the city.
The council has successfully delivered over 300 new homes for social rent in the last five years, though the partnership should increase the scale and pace of its housing delivery.
Cllr Lynda Thorne, cabinet member for housing and communities on Cardiff Council, said: “We are delighted to be working in partnership with Lovell and Vale of Glamorgan Council on this ambitious housing programme. This project marks a major step forward in our commitment to deliver high-quality, affordable homes for the people in Cardiff.
“By collaborating with experienced partners, we are not only creating new homes but also investing in vibrant, sustainable communities and providing opportunities for local people. The completion of these contracts is a significant milestone, and we look forward to seeing the positive impact this partnership will have across the region for years to come.”