Housing Affordability Fund to deliver 10 urban renewal projects in NSW
Federal Minister for Housing Tanya Plibersek and NSW Minister for Housing Frank Terenzini today announced a new partnership that will invest $43 million in urban renewal and affordable housing projects across Sydney and Lake Macquarie.
During a visit to Claymore, Ms Plibersek said the funding from the Rudd Government’s Housing Affordability Fund would be provided to Housing NSW, to undertake urban renewal work and deliver new affordable housing at ten sites.
“These projects will either directly benefit or bring forward the purchase of more than 8,000 homes – many of which will be affordable for first home buyers and moderate income earners,” Ms Plibersek said.
“At Claymore, the Rudd Government will provide $12.96 million to develop a master plan and undertake site works on the Claymore Urban Renewal project. This will create a greater mix of social and private housing in the local area.
“The funding at Claymore will be used to develop a master plan, which will explore options to redevelop the site and fund works such as new roads and better streetscapes.”
NSW Minister for Housing Frank Terenzini welcomed the Rudd Government’s $43 million partnership with Housing NSW to renew public housing estates and deliver new affordable housing for home buyers.
“At Claymore the redevelopment will provide 1281 homes, 384 to be retained as social housing, 123 former public housing homes will be available for private sale, and 774 will be sold as vacant residential lots,” Mr Terenzini said.
“This is a great outcome for eligible home buyers in the growing region of Sydney’s south west with 380 eligible homebuyers saving up to $30,789 each.”
The overall $43.2 million investment will also be used to assist in future housing developments. Project descriptions of the ten Housing NSW projects are:
- $12.96 million at Claymore to develop vacant land, provide necessary infrastructure and connect roads. Preliminary investigations indicate the Master Plan will yield more than 1,000 dwellings, over 700 vacant residential lots, over 100 former public housing dwellings for private sale and more than 350 public housing units retained as social housing.
- $9 million will be used for site works on the Glebe Cowper Street Affordable Housing Redevelopment, which will shave up to $98,000 off the cost of 92 homes for housing providers.
- $5.028 million will also be provided for infrastructure works for the Bolton Point Affordable Housing Scheme, passing on average savings of $21,000 to 95 eligible homebuyers.
- $8 million will fund infrastructure at the Seven Hills Central Precinct Redevelopment Project, saving community housing providers up to $67,000 per dwelling for 120 dwellings.
- $650,000 to prepare a master plan for the Villawood East Estate, including a review of zoning and subdivision in the area to identify potential redevelopment projects.
- $1.21 million to prepare a local area plan for Chester Hill.
- $500,000 for a master plan for the Wentworthville Townhouses public housing precinct.
- $500,000 to create a master plan for the Prospect public estate, which will consider redevelopment, rezoning, and improved design.
- $3.05 million to create a concept plan for the redevelopment of existing social housing precincts in Redfern and Waterloo.
- $2.35 million to develop a master plan in South Randwick to renew and retain existing social housing and provide private sector housing.
The Rudd Government is investing $512 million nationwide in the Housing Affordability Fund to reduce planning delays and infrastructure costs in new housing developments.