A new $32 million partnership between the Federal and NSW Governments will help deliver new social and affordable homes for more than 100 people in North Parramatta.
The Federal Government will provide $23 million in funding, subject to a Community Housing Provider (CHP) being selected to deliver the project.
This funding has been made possible thanks to the Albanese Government’s decision to unlock up to $575 million to help fund more social and affordable rental housing through the ³Ô¹ÏÍøÕ¾ Housing Finance and Investment Cooperation.
This is one of the first projects to be announced in NSW following this decision.
The successful CHP will be required to deliver 65 homes, comprising a minimum of 40 per cent social, 40 per cent affordable and 20 per cent other diverse rental housing.
Social tenants will be drawn from the public housing waitlist, with a focus on accommodating older women and/or women fleeing domestic and family violence.
Housing Minister Julie Collins said she was committed to ensuring more Australians have a safe and affordable place to call home.
“We are not wasting a day when it comes to addressing Australia’s housing challenges and making sure more Australians have a safe and affordable place to call home,” she said.
“We have new projects underway across the country thanks to our decision to unlock funding for more social and affordable rental housing.
“We could do even more if the Senate backs our $10 billion Housing Australia Future Fund – the single biggest investment in social and affordable rental housing by a federal government in more than a decade.
“I’m pleased today’s announcement will help to deliver new homes for older women on public housing waiting list and women fleeing domestic and family violence.
“A key part of the Housing Australia Future Fund is the thousands of homes it will help build for women fleeing domestic violence and for older women at risk of experiencing homelessness.”
New South Wales Minister for Housing and ³Ô¹ÏÍøÕ¾lessness Rose Jackson said the housing crisis is real and growing, and it’s only through innovative partnerships like this one, which leverages the expertise of the community housing sector and vital Commonwealth funding, that we’ll deliver more social and affordable housing sooner.
“This is a strong step in the right direction, but there is a lot of work to be done to ensure we are delivering more and better housing for those in need and our essential workers,” Ms Jackson said.
“We’re wasting no time in identifying new ways to build more homes to take care of the people who take care of us and provide a safe and secure home for those who need it most.”
Federal Member for Parramatta Andrew Charlton said the Albanese Labor Government is investing in a future for Parramatta where locals won’t have to choose between a good, secure job and more affordable housing out here in Western Sydney.
“I’m so pleased this announcement will deliver new social and affordable housing for our local community, Mr Charlton said.
The Albanese Government’s ambitious housing agenda includes:
- The $10 billion Housing Australia Future Fund, the single biggest investment in social and affordable housing by a federal government in more than a decade, which will build 30,000 new social and affordable rental homes in its first five years.
- In this year’s Budget, an additional $2 billion in financing to support more social and affordable rental housing by increasing NHFIC’s liability cap from $5.5 billion to $7.5 billion from 1 July 2023.
- In this year’s Budget, an extra $67.5 million to states and territories to help tackle homelessness, as part of a $1.6 billion one-year extension of the ³Ô¹ÏÍøÕ¾ Housing and ³Ô¹ÏÍøÕ¾lessness Agreement.
- In this year’s Budget, incentives to increase the supply of rental housing by improving taxation arrangements for investments in build-to-rent accommodation.
- A new ³Ô¹ÏÍøÕ¾ Housing Accord, a shared ambition to build one million new well-located homes over five years from 2024.
- $350 million to deliver an additional 10,000 affordable rental homes over five years from 2024 as part of the Accord.
- An expansion of the ³Ô¹ÏÍøÕ¾ Guarantee Scheme, which has already helped more than 50,000 Australians into home ownership.
