A new financing model, the National Housing Trust (NHT) initiative, will see developers Tweed Homes and Scottish Borders Council jointly funding the purchase of the homes, which will be made available for affordable rent.
The NHT, led by the Scottish Government and Scottish Futures Trust, aims to increase choice and opportunities for those searching for a home.
It is just one part of the Scottish Government's drive to boost sustainable economic growth and create jobs by finding new and innovative ways to invest in infrastructure across Scotland.
Speaking in Galashiels, Keith Brown said: "I am delighted that our creative, innovative National Housing Trust funding model, the first of its kind in the UK, has borne fruit. It will help address the demand for much needed affordable housing across the country.
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"NHT will deliver dozens of new homes in the Borders, which will be made available for rent at below market rates. Importantly, they have been secured for very little taxpayers' money as well as supporting jobs and stimulating the local construction sector.
"Clearly the NHT has inspired confidence. Councils, developers and housing associations have risen to the challenge and embraced this approach as one that can help ease housing pressures locally.
"There is no doubt these are difficult times, which is why we are supporting the economy by focusing on job creation with targeted capital investment, such as through the NHT.
"But the UK Government must also act and bring forward a new, cost effective programme of infrastructure investment to create new jobs and new capital assets which will further support growth over the short and long term.
"What Scotland really needs is access to all the key levers of economic growth, such as borrowing powers and corporation tax, to enhance investment and create more jobs across the Scottish economy."
Councillor Ron Smith, Scottish Borders Council's Executive Member for Social Work (Children and Strategic Services) said: "We are delighted to have begun the first National Housing Trust development in Scotland.
"By working with a local developer and a local housing provider we are able to provide much needed affordable accommodation and help stimulate the Borders economy.
"This agreement is an important one which will make a huge contribution to the many families who are looking for affordable homes in the Borders. I have no doubt this scheme will be a huge success and will prove a blueprint that other authorities in Scotland will want to follow."
(GK)
