Up to 700 new homes could be built and housing estates regenerated in Stoke-on-Trent.
The city council is to be given a slice of £1.7bn which is being shared between 10 councils across the country.
A council spokesman said there was a need for new social housing in the city and the scheme would provide new homes for people on the waiting list.
Estates that could benefit include those in Abbey Hulton, Bentilee, Blurten, Chell Heath and Fegg Hayes.
The council currently has 9,000 people on its housing waiting list.
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