Premier announces billion dollar Social and Affordable Housing Fund
Premier Mike Baird, Treasurer Gladys Berejiklian and Social Housing Minister Brad Hazzard have released a new model for social and affordable housing to encourage the private sector to deliver housing projects over a period of up to 25 years.
In the largest investment to date, the State Government have tipped $1.1 billion in cash reserves into a Social and Affordable Housing Investment Fund.
The money will be invested by NSW Treasury Corporation with the returns used to plug the gap in affordable housing.
Developers, infrastructure firms and community groups are being invited to bid for money in the fund to deliver at least 3000 extra social and affordable homes.
The government says the new model could spark proposals for new developments.
Expressions of interest are due by 15 March 2016.
Tenderers will be asked to put forward business cases that “achieve social outcomes for tenants” such as:
- improving employment and education prospects;
- providing support to women and children who have experienced domestic violence and people with mental health needs;
- improving connections between family and community; and
- achieving economic independence.
Mr Hazzard said this commitment would complement the government’s 10-year strategy for social and affordable housing, which seeks to transfer 35 per cent of government housing to community housing.