Hundreds of homeless people in Manchester could be offered their own home thanks to a new £20million scheme to tackle street poverty across the UK.
Housing officials have said the north-west will get a £5million share of the National Homelessness Property Fund to buy and renovate 50 houses, and could secure another 100 properties.
It comes as latest figures show there are more than 80,000 people on social housing waiting lists in the region, with a further 8,000 in temporary and emergency accommodation.
Salford mayor Paul Dennett said that it was a "positive contribution".
The Local Democracy Reporter Service said houses and flats will be bought through the scheme 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: "Tenants will only ever be evicted for a serious breach of their tenancy."
Resonance hopes the fund will eventually raise up to £100million to support hundreds more in need.
The first fund, which ran from 2015 to 2018, raised £30million to buy 229 properties for 587 people.
The initial investment of this second fund could provide housing for more than 250 homeless people.
Dennett, who is Greater Manchester's lead on homelessness, said fund is a "positive contribution to tackling the housing and homelessness crisis".
Simon Chisholm, from social investment firm Resonance, said the need for affordable housing was "significant".
