New Era For Affordable Housing In The City Of Adelaide

An environmentally-sustainable 15-storey housing block will be built in Waymouth Street as part of a new Commonwealth and State Government project that will both showcase the future of affordable housing in Adelaide and deliver more than 250 homes for South Australians.

A total of $46.5 million in Rudd Government funding will be spent to build 138 modern, affordable living units at 102 Waymouth Street over the next two years in the first phase of the project.

Commonwealth  Tanya Plibersek and State Housing Minister Jennifer Rankine visited the site today, which will include 27 properties each for social housing, affordable rental, low-income purchase, and market sale.

It will also include 30 units set aside for young Australians who are either homeless or at risk of homelessness.

“The Rudd Government is pleased to support this exciting new development, which will deliver affordable homes to renters and entry level homebuyers in the Adelaide CBD,” Ms Plibersek said.

“The Waymouth Street development is a great example of how economic stimulus is supporting jobs in the construction industry during the global recession.

“It is also terrific that the Rudd Government’s housing programs are supporting innovative projects that deliver a mix of affordable rental properties and housing for purchase in areas of high need.”

State Housing Minister Jennifer Rankine said the apartments will be the latest in urban design and sustainable living, with residents being close to public transport, employment, services and facilities.

“The great thing about this project is there will be a range of affordable rental and home ownership options for key workers and those professionals who are vital to keeping our city running,” she said.

“Importantly, this development will provide an opportunity for aspiring young home purchasers who are currently priced out of the Adelaide apartment market.”

Ms Rankine said revenue generated by home sales will be used to build more social housing in coming years – with 81 homes to be started three months following completion of the Waymouth Street project and another 40 to follow at a third site.

“The development will have a six-star energy rating and is another key building block in the Government’s housing transformation to develop a better life for South Australians through more housing options,” she said.

“This will be a multi-purpose building offering a series of housing options for a diversity of people that include those wanting to buy, those looking for affordable rental and more social housing in the city.”

Designs and the appointment of contractors should be finalised early next year, with construction starting shortly after that.