A new investment partnership between the state and federal governments is set to deliver almost 1800 social and affordable homes for Western Australia.
A total of 21 new social and affordable housing projects near METRONET stations and on other government-owned land will soon be contracted to builders.
The first tranche of projects will consist of 14 developments in Ellenbrook, Byford, Brabham, Redcliffe, Wellard, Woodbridge, Banksia Grove, Rivervale, White Gum Valley, Subiaco East, Albany, Dallyellup, Golden Bay, and Treeby – delivering nearly 1100 new homes.
Detailed design will also commence on a further seven projects in Cannington, Ballajura, Butler, Midland, Kelmscott, Subiaco, and Bassendean.
The projects comprise a mix of affordable rentals and social housing, with projects packaged together to create a pipeline of work for the State’s building industry and to attract builders from the east coast.
These new dwellings will be constructed on state-owned land and the completed dwellings will be sold to and managed by the Community Housing sector, with Availability Payments attached to support affordable rental dwellings for Western Australians.
Under the proposal, the state government will initially invest $443 million to fund the upfront construction costs of the new homes, which will then be sold to Community Housing Providers (CHPs).
Subject to agreements being finalised with Housing Australia, CHPs may have access to concessional loans from the HAFFF and NHAF and may also be able to apply for senior debt through the Housing Australia Affordable Housing Bond Aggregator (AHBA), as well as ongoing subsidies to support their repayments over a 25-year period.
Around 20 per cent of the homes will be available as social housing, with 80 per cent to become affordable community housing.
DevelopmentWA and the Department of Communities will release tenders for the first tranche of projects in coming months, with construction to commence next year.
“My government is throwing everything at getting more Western Australians into a home,” Premier Cook said.
“This landmark new partnership with the Albanese Labor Government will build the affordable homes our growing state needs, right where we need them.
“It means we have a sustainable pipeline of affordable housing projects now and in coming years.
“Our nation leading housing plan is fast-tracking approvals, unlocking more land and getting more houses built, faster – because we’ll always do what’s right for WA.”
