Stimulus plan boosts local housing supply at Mawson Lakes

Tanya Plibersek today inspected a completed $5.5 million project at Mawson Lakes that has boosted housing supply and supported jobs through the global recession.

The Delcooke Property Group developed and built the 20 new two-bedroom apartments as part of the Fusion 5 project.

Six of the new apartments – which will provide affordable housing for seniors – were funded by the Nation Building Economic Stimulus Plan, while the other 14 have been offered for private sale.

Stimulus plan funding enabled Delcooke to complete the entire Fusion 5 project, as well as plan future developments – boosting local housing supply in Adelaide’s northern suburbs.

Ms Plibersek said the project demonstrated that the Rudd Government’s investment in social housing was having a flow on effect to local housing supply.

“Across the country, the Rudd Government’s $5.6 billion investment in affordable housing through the Nation Building Economic Stimulus Plan is and supporting more than 15,000 jobs.

“This development at Mawson Lakes shows that as well as delivering more than 19,300 new affordable homes, Stimulus funding has also given industry the support it needs to increase housing supply in the private market.

“The flow on effect of Stimulus funding has been that developers like Delcooke Property Group have the confidence they need to invest in further projects that might otherwise have not gone ahead,” Ms Plibersek said.

Delcooke Property Group Director Fairlie Delbridge said the funding her business received through the Stimulus Plan enabled the entire Fusion 5 project to go ahead.

“As well as building these 20 new affordable homes that are close to transport, shops and services, we were able to ensure all tradespeople, sub-contractors and suppliers are locally based.

“The Stimulus funding helped my business to weather the economic downturn, and with the completion of the Fusion 5 Apartments Project we will be able to plan further developments,” Ms Delbridge said.