As many as 100 new social homes are expected to be delivered along with affordable homes and homes for key workers under a new development which is slated for an inner Sydney suburb.

The NSW Government has appointed a consortium including national infrastructure developer Capella Capital and community housing provider Bridge Housing to deliver its proposed $230 million renewal of Elizabeth Street in the inner-Sydney suburb of Redfern.

(Indicative image of a future laneway. Source: supplied)

Located opposite Redfern Oval, the development will see construction of more than 300 new homes.

This will include 100 social homes and a mix of housing including affordable homes, homes for key workers, disability support units and private homes.

Other features of the development include:

  • a mix of building heights to fit in with the existing neighbourhood
  • architectural design which is consistent with the look, feel and culture of the inner-city neighborhood
  • new rooftop gardens and outdoor spaces for residents
  • a community facility, new shops, cafes and communal spaces
  • a new head office for Bridge Housing.

The new social homes will be used to accommodate local relocations from the planned renewal of the Waterloo Estate and will support greater connection to country for aboriginal residents.

(aerial view of site to be redeveloped)

The latest development comes as New South Wales and indeed Australia is facing a crisis in social and affordable housing.

Across New South Wales specially, the state has approximately 57,000 households languishing on social housing waiting lists (source: LAHC).

Add in the number of homes which are needed to cater for those who are currently in a state of housing/rental stress (where rental payments exceed 30 percent of household income) and the Community Housing Industry Association estimates that the state has a shortage of around 200,000 social and affordable homes.

Moreover, the announcement comes amid recognition of homes which are affordable to be of high quality and to be well-located in areas with access to social transport, amenity and employment.

This is to help ensure that essential workers such as teachers, nurses and police are not priced out of suburbs in which their services are needed.

(Indicative image of a future laneway)

Minister for Planning and Minister for Homes Anthony Roberts welcomed the latest appointment.

“We’re transforming Sydney’s inner city to deliver multiple benefits to the local community, including much-needed new housing close to jobs, public transport and open space,” Robert said.

Bridge Housing CEO, Rebecca Pinkstone, said they were delighted to have been selected to bring the project to life as the project developer in collaboration with Capella Capital.

“The development will become a blueprint for how the community housing sector, working in partnership with government, institutional investors, commercial lenders and the private sector, can deliver social and affordable housing at scale,” Pinkstone said.

“With thirty years’ experience in the delivery of quality housing and services, Bridge Housing is uniquely positioned to deliver affordable housing designed for the local community. The development will provide a template for how large-scale development can be undertaken to support a diverse and vibrant city.”

Industry commentators welcomed the new model.

“This means affordable homes are not just talked about, they are delivered. Government, community housing providers and the private industry cannot solve the housing supply and affordability crisis alone,” Steve Mann, CEO of UDIA (Urban Development Institute of Australia) NSW said.

“The model announced today, is a good step forward and should be used as an exemplar of how Government, the community housing sector and the private industry can work together to tackle the housing supply and affordability crisis gripping NSW. Utilising government land alongside private industry investment enables costs to be shared and risks to be reduced.”

Subject to planning approval, construction is expected to begin in 2025.

Around 700 jobs will be created during the project.

 

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