The development will provide a selection of homes for first-time buyers, the elderly and people with support needs.
The construction of the houses will see the demolition of two former adult care homes – Rothwell Grange in Broom and Copeland Lodge in Thurcroft – as well as Maltby Central Library.
SCR secured the finance from the One Public Estate funding, which is being combined with Land Release Fund cash to support housebuilding.
The funding will be used to appoint a project officer for two years to manage the schemes, who will then share the experience gained to support other initiatives across the SCR.
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The projects will help create 480 jobs and generate almost £13m in inward investment as well as raise almost £4m in capital and cut running costs by more than £800,000.
Cllr Dominic Beck, cabinet member for housing at Rotherham Council, said: “The link between housing and good health and wellbeing is undeniable, so it’s crucial that we are working in partnership to provide homes that are affordable and fit for purpose in thriving neighbourhoods.
“As a council, we have committed to provide 14,000 new homes that meet the needs of our residents over the next seven years and this funding will help us deliver on this commitment.”
Work on the schemes is expected to begin in the coming weeks.