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Strong market interest in Australia's first mixed Build-to-Rent development

Last published on 26 Oct 2018 in News

The NSW Government has announced the conclusion of the competitive tender process to find a development partner to deliver mixed social, affordable and private housing in Elizabeth Street, Redfern under the nation’s first mixed tenure Build-to-Rent model.

Minister for Social Housing Pru Goward said the market’s robust response to the EOI was very encouraging. “We knew the market would have a strong reaction to the first ever mixed tenure Buildto-Rent site in Australia,” Ms Goward said.

“Renters and social housing tenants will be among the first to benefit from the development, given the model will increase supply for people looking to rent and support vulnerable people in need of social and affordable housing.”

Nine consortia are competing to deliver dedicated rental housing in the high demand area, with a shortlist of applicants expected to be announced by the end of the year.

Ms Goward said Build-to-Rent is the newest initiative in the NSW Government’s nation-leading social and affordable housing building program, Communities Plus.

“Through Communities Plus, the NSW Government is expected to deliver 23,000 social housing dwellings, 500 affordable housing dwellings and 40,000 private dwellings over 10 years in NSW, delivering on our commitment to provide more and better housing for people across the State,” Ms Goward said.

“The Build-to-Rent mixed tenure model will allow the NSW community to retain valuable Government owned land while investors, in partnership with Community Housing Providers, fund, build and manage the housing under a long-term lease.”