First Home Completed in Victoria from Nation Building Stimulus
The Prime Minister today announced the completion of the first homes delivered under the Nation Building Economic Stimulus Plan in Victoria and handed over the keys to the new tenants in Tullamarine.
This multi-unit development by builder Greg Hinton from CGH Property Group received $650,000 in stimulus funds and has three homes that supported work for 11 apprentices.
The Social Housing Initiative will deliver 20,000 homes across the country – it is the biggest ever investment in affordable housing, which together with other stimulus initiatives will support 15,000 jobs nationally over the next two years.
Investment in social housing creates jobs for builders, plumbers, carpenters, electricians, brickies, carpet-layers, kitchen manufacturers and many more in the building and construction industry.
The Social Housing Initiative in Victoria is worth $1.6 billion and is on schedule to meet the objective of completing 75 per cent of properties by the end of 2010:
- Stage One involves 667 dwellings at a cost of $171.5 million in Victoria – all have been approved by the Federal Government and 83 have commenced construction.
- For Stage Two, 929 dwellings worth $218 million have already been approved – ahead of the August deadline. The rest of the proposals for this stage will be approved by August 30.
The stimulus plan also involves a $99.2 million investment in maintenance and repair work for 5600 homes in Victoria. Renovation and repainting jobs increase the quality of the housing stock and lengthen its life.
The Commonwealth and Victorian Government are investing in nation building to support jobs and provide more Australians with affordable housing.