Strong market interest in Australia’s first mixed build-to-rent development
The NSW Government has announced the
conclusion of the competitive tender process to find a development
partner to deliver mixed social, affordable and private housing in
Elizabeth Street, Redfern under the nation’s first mixed tenure
Build-to-Rent model.
Minister for Social Housing Pru Goward said the market’s robust response to the EOI was very encouraging.
“We
knew the market would have a strong reaction to the first ever mixed
tenure Build-to-Rent site in Australia,” Ms Goward said.
“Renters
and social housing tenants will be among the first to benefit from the
development, given the model will increase supply for people looking to
rent and support vulnerable people in need of social and affordable
housing.”
Nine consortia are competing to deliver dedicated rental
housing in the high demand area, with a shortlist of applicants
expected to be announced by the end of the year.
Ms Goward said
Build-to-Rent is the newest initiative in the NSW Government’s
nation-leading social and affordable housing building program,
Communities Plus.
“Through Communities Plus, the NSW Government is
expected to deliver 23,000 social housing dwellings, 500 affordable
housing dwellings and 40,000 private dwellings over 10 years in NSW,
delivering on our commitment to provide more and better housing for
people across the State,” Ms Goward said.
“The Build-to-Rent mixed
tenure model will allow the NSW community to retain valuable Government
owned land while investors, in partnership with Community Housing
Providers, fund, build and manage the housing under a long-term lease.”
More information is available at www.communitiesplus.com.au