£88m. Burnley development will create new jobs

The joint venture, which is being backed by Calico, will bid for housebuilding and maintenance contracts across the area.

Bosses at the Croft Street company, which owns more than 4,500 homes in Lancashire, hope work will be up and running by the summer.

But first Calico will look to recruit an experienced industry partner to set up the new development company

Calico, which is the borough’s largest landlord, is keen for the venture to benefit Burnley and believes it could create significant employment in the area.

Michael Birkett, Calico’s Chief Executive, said: “Calico is a company with strong local values. This new joint venture will give new opportunities for local people, create jobs, and ultimately bring more money into the area. This is an absolute must.”

Following a recent event to publicise the opportunity, Calico has received a significant amount of interest from potential partner organisations.

The procurement process is currently being handled by procurement specialists Valueworks, and the contract will be awarded later this year.