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Collaboration between the South Australian and Commonwealth governments will facilitate the development of a build-to-rent social and affordable housing project in Adelaide’s fringes.
The 130-plus apartment project was announced in early January by the National Housing Finance and Investment Corporation (NHFIC) in connection with the South Australian Housing Authority (SAHA).
Funded jointly by the NHFIC — which will provide $50 million in grants — and the SAHA, which has committed a $15 million package to the project, including a $9.5 million land packet offered to the tier-one community housing provider (CHP) chosen by SAHA under a 99-year lease arrangement, and up to $5.8 million in capital grants toward construction costs.
Of the 130 residential dwellings, it is expected that the site, located on a former social housing block in Park Court, Eastwood, just two kilometres out of Adelaide’s city centre, will house 30 to 50 social housing properties with income-based rents to help low- and fixed-income renters secure accommodation.
Moreover, the site will include dwellings rented at 25 per cent below market rate with a focus on key works, including nurses, police, and ambulance officers, in addition to other private build-to-rent dwellings.
Federal Minister for Housing Julie Collins labelled the development as “just one example of what we’re hoping to do through our ambitious housing agenda”.
Nat Cook, South Australian Minister for Human Services, believes “this collaboration to build the state’s first affordable build-to-rent development puts South Australia at the forefront of housing innovation in Australia at a time we all know so many people are struggling to find a place to call home”.
She explained the project “will cater to people with various housing needs, from people living with disability, to people who need social housing, including women leaving domestic violence situations, and people who need affordable rental properties”.
NHFIC chief executive officer Nathan Dal Bon concluded that his organisation “is proud to work collaboratively with the South Australian Housing Authority to deliver a mixed tenure project generating an integrated development with positive outcomes for the community”.
The SAHA expects to finalise selection of its successful CHP applicant — tasked with building and managing the shovel-ready project — in the first half of 2023.
Previous tenants from the site have been relocated to new homes, and the site is ready for demolition, with other preparation works scheduled to occur in the early months of the year.
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