The local authority is trying to secure £35 million of funding so it can make 800 affordable homes available to rent over the next five years.
As part of a consortium bid on behalf of itself and other social landlords, Falkirk Council is looking for the cash injection from the Scottish Government to add to the £55 million provided by the bidders, which include Weslo Housing Management, Kingdom Housing Association and Link Housing Association.
The council aims to provide 562 homes – 202 new-build and 360 buy-backs, where the council purchases former council homes back into social ownership.
Over the past five years, the authority has already provided 338 new-build and 243 buy-back properties.
The new homes will be a mix of housing types spread across Stenhousemuir, Denny, Falkirk, Grangemouth, Bo’ness, Whitecross, Tamfourhill, Dunipace and Dennyloanhead.
Housing spokesman Councillor Gerry Goldie said: “Making new and affordable homes available locally is a big priority for us and this ambitious bid, if successful, will see nearly 800 properties available for social renting across the Falkirk area.
“Combining our resources with other social landlords ensures we maximise the bid and get the most out of our application for communities across the Falkirk area.
“We are already in negotiations with the Scottish Government to ensure we get the best deal for residents and deliver housing where it is really needed.”