The project involves a new partnership between the Scottish Government, Scottish Futures Trust and Scottish Borders Council to see the homes provided at locations across the area through the 'NHT council variant'. Under the model, council funding is supported by a capped Scottish Government revenue guarantee.
Around 200 jobs will also be supported by the move.
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Commenting on the scheme, Housing and Welfare Minister Margaret Burgess said: "It is my belief that each and every one of us should live in a comfortable home which doesn't cost the earth to keep.
"I have seen at first-hand the difference that the NHT initiative is making, offering people throughout the country new, high quality homes which meet their needs.
"I am delighted that Scottish Borders Council will be delivering up to 200 additional homes through the 'NHT council variant'."
Christa Reekie, Commercial Director of Scotland's Future Trust added: "The Council Variant is an extension of the successful National Housing Trust initiative. NHT has demonstrated that there is an ongoing need for high quality homes at affordable rent levels.
"Whereas under the developer led NHT model the supply of homes is limited to the number of homes the developer can build, the Council Variant allows the local authority to take a more active role in the choice of house types and locations."
(JP/IT)
