Minister Barr: More affordable rental homes for Canberra as part of new Build-to-Rent proposal
- Written by ACT Government
Released 15/05/2024 - Joint media release
The ACT Government is continuing to invest in affordable homes and housing options for Canberrans by supporting the delivery of 45 new affordable rental properties in Canberra’s inner north.
The 45 new rentals are part of a joint venture between Canberra PCYC, CHC and the Snow Foundation to deliver a new Build-to-Rent project on the site of the former PCYC community hub in Turner.
Separately Canberra PCYC, CHC and the Snow Foundation are also proposing to develop 10 social housing units for people aged 16 to 24 years old and a social enterprise café on the site.
The Government will support the delivery of the 45 affordable rentals as part of its $60 million Affordable Housing Project Fund, subject to the project progressing through planning and financing approvals.
The Government established the Affordable Housing Project Fund in 2023 to grow the supply of affordable rental properties in Canberra and strengthen the community housing sector.
The proposed Turner development is one of the projects supported through the fund so far, alongside:
* a Marymead CatholicCare Canberra and Goulburn Build-to-Rent development in Curtin, of which all 54 units will be affordable rentals;* a CHC and Canberra Southern Cross Club 140-unit Build-to-Rent project in Phillip which will include 70 affordable rental units; and* the Government's $4.5 million contribution to the Ginninderry women’s build-to-rent-to-buy pilot program, a partnership between Housing Australia and CHC.
To date six projects have been supported through the Affordable Housing Project Fund, which will deliver up to 280 new affordable rental properties in Canberra.
Build to Rent, which is aimed at increasing the supply of rental properties available for long-term tenure, is an important part of the Government’s ACT Housing Strategy to improve rental supply and affordability.
These projects are part of the Government’s commitment to deliver 600 additional affordable rentals by 2025-26, as outlined in the Parliamentary and Governing Agreement for the 10th Legislative Assembly.
The Government will announce further community housing partnerships for affordable Build-to-Rent projects soon.
Quotes attributable to ACT Chief Minister Andrew Barr:
“The ACT Government is pleased to be supporting the delivery of another 45 affordable rentals in Canberra through our $60 million Affordable Housing Project Fund. This project will be well-located close to public transport, shops and services.
“Housing affordability continues to be a priority and we are investing in a range of initiatives to increase the supply of affordable housing in Canberra, including through the Build-to-Rent model.
“Canberra is on track to reach half-a-million people by 2027. The Government’s housing initiatives will continue to support our economy and labour market and help ensure we have the right mix of housing options to meet the needs of our growing city.”
Quotes attributable to Minister for Housing and Suburban Development Yvette Berry:
“Today’s announcement demonstrates the ACT Government’s ongoing commitment to increasing housing supply, improving access to housing and expanding the range of choices for all Canberrans in the housing market, especially renters.
“Every Canberran deserves a roof over their head, whether they’re a homeowner or a tenant.“Importantly, this project will include a focus on supporting young Canberrans through the addition of 10 social housing units.”
Quotes attributable to Canberra PCYC CEO Cheryl O'Donnell:
“In collaboration with CHC, The Snow Foundation, and the ACT Government, Canberra PCYC is delighted with the proposed transformation of its under-utilised site in Turner.
“We also acknowledge and extend our appreciation to the numerous local businesses who have volunteered their expertise to assist in realising this project.
“The proposed remodelling will provide 55 units of desperately needed social and affordable housing. This collective effort, backed by the ACT Government's commitment and our shared equity contributions, propels us toward the pivotal stages of development.
“Together, we're not just building homes, we're crafting a brighter future for our community. This has been a long time coming, but we are excited to be part of something that will help support so many.”
Quotes attributable to the Snow Foundation CEO Georgina Byron:
“We are passionate about supporting this vital project, providing affordable rental accommodation and supported housing for at-risk youth in Canberra.
“We have been working closely with PCYC Canberra and CHC for a number of years and are really excited that the ACT Government has come on board and sees this as a priority project, we look forward to future financial and planning approvals to make this project a reality.
"We firmly believe that this collaborative approach involving government, business, community, and philanthropy is essential for the success of such a significant and impactful project.”
Quotes attributable to CHC CEO Andrew Hannan:
“CHC is excited about the positive social impact that this project will deliver for at-risk youth and essential workers in the Canberra community, far too many of whom do not have a safe, secure and affordable place to call home.
“The announced ACT Government financial contribution to this project, alongside the investments of our valued partners and our own, is key to unlocking the ability for the team to move forward with confidence to the next stage of approvals and getting closer to making this project a reality.”
- Statement ends -
Andrew Barr, MLA | Yvette Berry, MLA | Media Releases
