https://www.bbc.co.uk/news/uk-england-manchester-55208787Hundreds of homeless people could be provided with their own home in north-west England due to a new £20m fund, housing officials have said.
Greater Manchester will receive a £5m share of the initial investment to buy and renovate 50 houses, and could secure another 100 properties.
Simon Chisholm, from social investment firm Resonance, said the need for affordable housing was "significant".
Salford mayor Paul Dennett added that it was a "positive contribution".
The Local Democracy Reporter Service said houses and flats will be bought through a new round of the National Homelessness Property Fund, launched by Resonance, and leased to housing associations and homeless charities.
It will be funded by local authorities in Greater Manchester, the regional pension fund and social impact investors Big Society Capital.
People who are on local authority housing waiting lists in the area in which the properties are located will be offered homes with a minimum 12-months tenancy.
A Resonance spokesman said they would be offered tenancies with social landlords such as housing associations and councils.
He added: "Tenants will only ever be evicted for a serious breach of their tenancy."