The Tees Valley Housing Group has allocated £12.9m for new development projects.
The North-East's biggest housing association hopes to pass the benefits of the funding on to residents across its area.
Doug Ross, group director of finance and corporate services, said: "This increase in funding will facilitate major increases in development and provide significant benefits to residents, with such things as renovation schemes and major refurbishment projects.
"The main aim of Tees Valley Housing Group is to provide good, affordable housing across Teesside and surrounding areas and this money will help us to achieve both of these goals."
The £12.9m consists of £5m for mixed funded developments and £7.9m development funding.
The housing association was involved in a number of major regeneration initiatives, including The Courts at Redcar, Trinity Estate in Middlesbrough and the Old Shipyard site in Whitby.
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