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NSW Government the first to launch 'Build-To-Rent'

Property Markets / Planning, Zoning, Infrastructure

Australia

Aug 07 2018

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Renters and social housing tenants will be among the first to benefit from the NSW Government’s Build-to-Rent model – part of the largest social and affordable building program in the country, Communities Plus.

Minister for Social Housing Pru Goward said the Redfern Communities Plus site (at 600-660 Elizabeth Street, Redfern) would be the NSW Government’s first Build-toRent mixed housing model to integrate social and affordable housing.

“This model is a great addition to Communities Plus – increasing housing supply for people looking to rent as well as supporting vulnerable people in need of social and affordable housing,” Ms Goward said.

“Communities Plus sites are first-class in their design and integration and the Redfern site is no different - a stone’s throw away from the CBD, close to transport, TAFE, universities and job opportunities.”

Ms Goward said the Build-to-Rent model allows the Government to retain valuable state-owned land while investors, in partnership with Community Housing Providers fund, build and manage the site under a long-term lease.

“Under this innovative approach, we are able to provide Government owned land to investors under a long term lease and at the end of the term, the asset is retained by the Government.”

Communities Plus will deliver up to 23,500 new and replacement social and affordable housing dwellings and up to 40,000 private homes over the next 10 years across NSW. Other major sites include Ivanhoe, Waterloo, Arncliffe, Telopea, Riverwood, and Villawood.

For more information visit www.communitiesplus.com.au/redfern

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