The move comes after the leading UK construction group acquired the Tower and Fort Works site in Graiseley and the former Tap Works site in Low Hill from Bouygues, who are withdrawing from the low rise family housing market.
Galliford Try will continue with the delivery of 150 high quality homes on the Tap Works scheme, which consists of 3 derelict locations - the former Armitage Shanks Tap Works Factory site, as well as land on Fifth Avenue and Broome Road.
40 of the units will be council homes for rent, with the remainder to be sold as market housing.
The first council homes are set to be completed within a year. The remaining Council homes as well as market housing for sale is expected to be completed within 3 years.
The Tower and Fort Works contract will deliver 77 homes at the historic Great Brickkiln Street location. A quarter of the homes on this site will be set aside as affordable council houses.
The remainder is to be sold as market housing, with the development consisting of a mixture of 2, 3, 4 and 5 bedroom houses, plus 5 apartments, including 2 wheelchair accessible flats.
Construction is expected to start towards the end of the summer and should be completed by the end of 2020.
Deputy Leader and Cabinet Member for City Assets and Housing, Councillor Peter Bilson, said: "We are delighted we have been able to secure a developer of Galliford Try Partnerships' quality for these 2 very important housing regeneration schemes in the City of Wolverhampton.
"This is an exciting time for house building in the city with a host of projects springing up to benefit everyone.
"Work on these 2 sites supports the house building programme and will deliver quality homes for all."
Stephen Teagle, Chief Executive of Galliford Try Partnerships, added: "We are really pleased to step in and work with City of Wolverhampton Council to progress the proposals at Tap Works and Tower and Fort Works. Our intervention ensures these significant projects are delivered as originally agreed.
"We are renowned for our regeneration expertise and our ability to work with partners to unlock the true value of many challenging sites. Thanks to our strong regional presence, we can bring forward both of these important developments without the need to change the proposed tenures or delivery timescales."
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- released: Wednesday 20 June, 2018