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Melbourne Social Housing Projects Win Funding

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Social housing projects are continuing to gain momentum with four projects in Melbourne receiving funding through the $1-billion National Housing Infrastructure Facility.

The infrastructure funding will support HousingFirst to create 316 homes in Brighton and St Kilda.

The community housing organisation will have to access $18 million in grants and loans after the agreement between the National Housing Finance and Investment Corporation and the Victorian government.

The homes are expected to accommodate people currently on the priority social housing waitlist, the majority of whom are women aged over 55.

Since the onset of the pandemic the push and feasibility of social and affordable housing has ramped up including Victoria's 10 year, $5.3-billion program adding 14,000 dwelling and replacing 1100 older units.

In NSW the government launched a long-term $22-billion building program to renew its social housing portfolio including 920 dwellings in Waterloo.

Meanwhile Queensland is expected to build more than 5000 new homes during the next 10 years with its $1.8-billion housing strategy.

NHFIC chief executive Nathan Dal Bon said the Melbourne deal was the first of its kind and would hasten the development of much-needed affordable and social housing.

“This agreement with HousingFirst is a prime example of the way federal, state and local governments can work with community housing providers to deliver critical affordable and social housing solutions and support further growth across the sector,” Dal Bon said.

HousingFirst chair Janine Kirk said the funding model provided experienced not-for-profit housing providers access to affordable finance so they can get on with delivering homes for people in need.

“We know that a stable, affordable home is the best possible base from which to build, and in some cases rebuild, lives,” Kirk said.

“These homes must be in good neighbourhoods with access to utilities, transport, schools and opportunities.”

The NHIF offers concessional loans and grant funding for new or upgraded infrastructure needed for new housing, such as roads, water, sewerage, electrical, communications and remediation.

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Article originally posted at: https://theurbandeveloper.com/articles/melbourne-social-housing-projects-gain-funding