The Territory Labor Government is investing $4 million into more social and affordable housing in Katherine.
Katherine has seen a boom in the local economy with large construction projects underway in the region.
The Territory Labor Government will construct eight new social housing properties in Katherine. These homes will be of varied sizes, ranging from one bedroom to three. Land has already been identified for these builds with construction tenders to be released shortly.
To create additional affordable housing for Territorians, the Territory Labor Government has partnered with Venture Housing to build eight more affordable housing properties in Katherine and create a rental subsidy scheme to alleviate rental stress in the NT market
The Territory Government will transfer a block of land in Casuarina Drive, Katherine East and provide a $2 million capital grant to Venture Housing to build a new affordable housing complex. This development and construction and tenancy management will be managed through Venture Housing. These will include a mix of 2 - 3 bedroom homes and include energy efficient features to optimise utility cost savings for tenants.
Another aspect of the Territory Governments investment into affordable housing includes a $3 million private rental subsidy scheme for eligible key workers on low to medium incomes, including Katherine residents.
The scheme is in the final stages of development and due to be implemented next month. It will include a rental subsidy range of $6,000 - $12,000 per annum, with an average support of $10,000 per tenant per annum estimated.
This funding is coming from the Territory Governments $21 million housing boost which was announced in December 2021.
Quotes from the Minister for Territory Families and Urban Housing, Kate Worden:
"Good housing creates better communities. We have a vision for our housing sector and we are reforming the way it operates.
"Katherine is an integral service hub in the Territory. Building more homes will mean greater support for our workforce, making sure more people call Katherine home.
"The rental subsidy will assist our low to medium income owners be able to afford a rental property of their own, which means they can continue working and sending their children to school, without having to worry about needing to move again.
"Securing affordable homes that are ready to go will benefit our economy, by attracting more workers to help industry grow and keep business ticking over and unlocking."
Quotes from the CEO of Venture Housing Company Karen Walsh:
"Venture Housing is pleased to be partnering with the NT Government, the Private Sector and industry to increase housing opportunities across the Territory. This joint investment from NTG and Venture Housing will deliver eight new energy efficient homes in Katherine for rent by key workers and their families, as well as generate economic stimulus during and after the construction".
"Thriving communities depend on viable businesses and key workers. These funded initiatives aim to ensure that access to affordable rental housing is not a barrier to businesses attracting key workers. This much needed capital investment, as well as the Rent Choice Subsidy Scheme will make an impact. Venture is committed to delivering social and economic outcomes - and safe, secure, affordable housing are critical to making this happen".
Quotes from the Executive Officer of NT Shelter, Peter McMillan:
"While there is a long way to go to meet our social and affordable housing needs across the Territory, it is great to see new housing announced for Katherine. It's also encouraging to see new approaches being taken to provide more Territorians with access to housing at rents they can afford.
"The Katherine region has so much social and economic potential. It's vital that a lack of housing doesn't hold the Territory back. This will require ongoing housing investment such as this to ensure that all Territorians, as well as new arrivals, have access to housing that they can afford"
Northern Territory Government
