Acting Minister for Housing, Lily D’Ambrosio last week announced the creation of 680 new affordable housing rental properties through the Social Housing Growth Fund’s New Rentals Development Project.
January’s announcement follows the pre-election announcement on the $1 billion Social Housing Growth Fund, which aims to create up to 2,200 new social housing places through the construction of new dwellings and leases over five years.
The Social Housing Growth Fund is using financial incentives and support for community housing agencies to unlock private investment in new social housing and major new construction activity.
UDIA Victoria notes the potential for the Social Housing Growth Fund to complement private investment in affordable housing negotiated through voluntary affordable housing agreements, under the Build and Operate (BOP) program, for which a Request for Proposals is currently underway.
Noting the increasing number of local governments pursuing affordable housing outcomes through the planning system, UDIA Victoria has partnered with the Department of Environment, Land, Water and Planning to offer a half-day course on Property Development Economics and Affordable Housing, specifically designed to strengthen the capacity of planners to negotiate affordable housing agreements.
For bookings or to find out more about the UDIA Property Development Economics and Affordable Housing Course, click here.
Read more about the Social Housing Growth Fund here.
Read the Media Release here.