South-East Queensland developer De Martini Fletcher has signed on to become the first to partner with Homes for Homes, a fundraising initiative that provides capital to social and affordable housing providers.
The landmark deal would provide a 0.1 per cent donation to the charitable organisation from the sale of each of the 88 registered apartments in the developer’s Corner House project at Stones Corner in Brisbane’s inner south.
De Martini Fletcher general manager Tony Dwyer said the “transaction is very easy for a developer”.
Dwyer inked the deal that provides a donation on the sale of each of the 88 apartments in the tower that is due to be launched soon, slated for 20 Stoneham Street.
But for Dwyer it was personal.
“I’m living proof of the opportunity that stable housing affords,” Dwyer said.
The London native spent the first five years of his life living in a council estate in the east of the sprawling city.
“Dad was doing two jobs, and Mum was doing two jobs from home,” he said.
“Then the council did a scheme where you could buy a council home at below market rate. My parents went and bought a three bedroom house for £12,000 in the late 1970s in Scrattons Farm.
“If my mum and dad didn’t buy that house, I could have gone down a very different road. But it gives you an opportunity, it gives you stability.”
Dwyer said he felt it was an opportunity to give back to those experiencing housing vulnerability.
“But it was also a business opportunity,” he said.
“Big business needs to step up because the council can’t do it on its own. It’s good professionally but also personally to be involved in the Homes for Homes initiative.”
Homes for Homes Queensland partnership manager Mia Bannister said the De Martini Fletcher partnership was a shot in the arm for the organisation’s Queensland branch and a great organisation to partner with.
The organisation aims to generate private sector revenue to invest in social and affordable housing in Queensland and across the country.
The agreement is attached to the deed to donate 0.1 per cent of the future sale price of the property once it is sold, and sellers can opt out.
Bannister said Homes for Homes pooled the money to disperse to organisations such as the Property Industry Foundation to help build housing for vulnerable communities.
The money De Martini Fletcher donates from sales will be able to be tracked to tangible outcomes, according to Bannister, who said that it could also be harnessed as a marketing initiative to purchasers.
“We want 3 per cent of all homes in Australia to be registered, which would equate to billions by 2050. It’s generational change,” Bannister said.
“But housing needs to be a whole community solution.”
