NSW Government shortlists three consortia for Redfern build-to-rent development
The NSW Government has announced the shortlisted consortia seeking the contract to build Australia’s first social, affordable and private Build-to-Rent development.
There are three consortia set to tender for the opportunity to deliver around 500 new homes under this innovative new Communities Plus model.
They are:
- · a John Laing-led consortium including Compass Housing Services
- · Frasers Property and Hume Community Housing Association
- · Capella Capital, Lendlease Building and Evolve Housing
The departing Minister for Social Housing Pru Goward said there had been a strong market response to the Build- to-Rent project where the project will be built on state government land and after 40 years rental stream reverts to the government.
“The overwhelmingly strong response from the expressions of interest process tells us that Build-to-Rent will become an integral part of the Government’s social and affordable housing building program," she said.
“Build-to-Rent will bridge the housing gap in a market where more people than ever before are renting.”
Around 70 per cent of the property will be build-to-rent units while the others will be affordable and social housing.
Communities Plus is the largest social and affordable housing initiative in Australia, delivering up to 23,500 new and replacement social and affordable houses over 10 years.
The NSW Government will announce the successful proponent in the third quarter of 2019.
