Prime public housing estates to include private units

Prime public housing estates to include private unitsThe Property Council has welcomed a Government announcement to include private units in the redevelopment of public housing residences across nine metropolitan Melbourne sites.As part of the $185 million plan, more than 1,000 public housing properties will be will be overhauled, with an increase of at least 10 per cent in social housing.While the estates will also be opened up to private investment, it has not been confirmed how many private units will be included in the rebuild which is scheduled to commence in 2018.The Property Council supports private and public sector collaboration in addressing the issue of affordable housing. The community housing sector needs greater investment and alternate, credible housing funding models should be developed with incentives for the private sector to become involved. Melbourne is experiencing an escalating homelessness crisis. With the right policies and programs, there is great potential to increase the supply of social and affordable housing.