A £30million investment has been secured to build around 740 affordable homes in the North-East.

The Homes and Communities Agency’s (HCA) Affordable Housing Fund has pledged to support Tees Valley’s regeneration by offering more low-cost households in the area over a five-year period.

The Thirteen Group, that has received the £30m sum, will produce a range of houses and accommodation according to specific needs in different areas.

Martin Hawthorne, director of development and regeneration at Thirteen, said: “We are delighted to have secured this funding from the newly expanded affordable housing fund.

“It will allow us to build quality new homes in places where they are most needed, encouraging the regeneration of the Tees Valley, over the next five years.

“We will continue to work with our local authority partners within the Tees Valley Combined Authority to ensure that we can help create a housing market which works for everyone, meeting the diverse housing needs of the area as well as achieving the best possible impact for this area's economy, employment, and training.”