Boost to supply of affordable housing in inner Sydney

Tanya Plibersek, today visited a new $19.69 million development which will deliver 57 homes for low and moderate income earners in Zetland.

All of the 57 units in this phase of construction by City West Housing will use funding from the Rudd Government’s Nation Building Economic Stimulus Plan or National Rental Affordability Scheme.

The National Rental Affordability Scheme component will see the construction of six one-bedroom units, one two-bedroom unit, and 12 three-bedroom units.

These units will be rented out at 20 per cent below market rate to low and moderate income workers such as those in childcare, retail and hospitality. This means that key workers can live in inner Sydney, where their skills are needed.

City West Housing has also received $10.05 million in funding under the Nation Building Economic Stimulus Plan to construct a further 23 one-bedroom units and 15 two bedroom units at the Zetland site.

Ms Plibersek said the Rudd Government is investing $5.6 billion through the Nation Building Economic Stimulus Plan to deliver more than 19,300 social housing homes across Australia.

“The Rudd Government is taking practical steps through its Nation Building Economic Stimulus Plan to cushion the impact of the global recession by supporting jobs in the construction sector,” Ms Plibersek said.

“There is the important social benefit of providing more affordable housing to people who need it the most and help the Government meet its target to halve the rate of homelessness by 2020.

“It is vitally important that we have affordable housing in the heart of our cities, close to services such as schools, universities, shops and public transport.

“Across all affordable housing programs, the Rudd Government will increase the stock of affordable rental housing across Australia by more than 80,000 units over the next four years.”

City West Housing Chief Executive Richard Perkins said it was expected that around 350 people will work on site in this stage of the development.

“This project will provide long term and secure affordable rental housing to a mix of tenants from a range of socio-economic and cultural backgrounds – including people who faced homelessness through to people who provide the workforce for essential services,” Mr Perkins said.

“On completion of the entire project, City West Housing will have housed approximately 550 households in high quality and affordable accommodation in areas where they have strong family and work connections.”

City West Housing purchases land and builds and maintains secure, affordable, and long term housing for low and moderate income earners living or working in Ultimo, Pyrmont or Green Square.