A demolished public housing estate in Sydney's inner city suburb of Glebe, has been slated for development by the NSW Government.
New Minister for Family, Community Services and Social Housing Brad Hazzard announced plans earlier this week for a $170 million housing development on Cowper Street, according to the Sydney Morning Herald.
It will include social and affordable housing as well as units for the private market.
As reported by SkyNews Australia, Mr Hazzard said the government needed to include affordable housing alongside commercial developments.
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"We've got a lot of development going on and nowhere near enough social and affordable housing," Mr Hazzard said.
"I have no doubt the Cowper Street housing development will be very popular with people eligible for social housing, those key workers who pay discounted rent through the affordable housing component and for private buyers.
"The project transforms what was previously a concentrated social housing area into a socially mixed community and creates the conditions to give many people better opportunities in life."Almost 500 new dwellings will be created, with around 250 being private apartments, with the proceeds from these sales funding the remaining half of the development. This half will include public or social units and then around 100 dwellings will be reserved for 'essential workers' such as teachers and nurses.
Construction of the affordable housing will begin in 2016, followed by social housing, with the entire development estimated for completion in 2018.