Council has taken ownership of its first five Affordable Housing Units in Pagewood Green, Pagewood, as part of a its Affordable Housing Program which will provide accommodation for working families on low incomes.
Bayside Council's has secured 45 properties as part of a Voluntary Planning Agreement with Meriton at the Pagewood Green Complex in Pagewood.
The terms of the agreement provided for the first five units to be transferred to Council prior to work beginning Stage 2 of the former BATA site in Pagewood. The remaining units 40 units will be transferred to Council in groups of 10 as works progress.
The Voluntary Planning Agreement also includes the dedication of land for open space and a $23.9 million cash contribution which will bring much needed infrastructure to the local community.
Council's affordable housing portfolio will be managed by Evolve Housing Limited.
Council's affordable housing targets Bayside residents or those who have an affinity with the area who are employed on low to moderate incomes.
It is different to the State Government's social housing which is for people on a pension or very low income.
The successful applicants will be charged rent at a reduced rate of up to 25 to 35 percent of the current medium market price. It applies for a period of up to three years to give them a greater level of housing certainty and opportunities to enter the private rental market or home ownership by the end of that period.
Evolve Housing Limited will provide management services for Council's Affordable Housing portfolio for a period of 5 years.
