Affordable housing supply to be boosted

City of Melbourne Councillors will next week consider plans to increase the supply of affordable housing as part of the Affordable Housing Strategy 2030.

Under the proposed strategy to be considered on Tuesday, up to 25 per cent of all future residential development on land owned by the City of Melbourne could be dedicated to affordable housing. 
The Lord Mayor said building more affordable housing benefits residents and the economy.
“For every $1 spent on affordable housing, more than $3 in benefits for our community would be created,” the Lord Mayor said.
“Building more affordable housing gives people a safe and stable place to live and provides benefits for our business community.”
The Lord Mayor said the current lack of affordable housing puts pressure on our city’s housing options, which impacts key workers such as police, nurses, teachers, cleaners and people who are underemployed or unemployed. 
“Independent analysis shows that Melbourne had a shortfall of at least 5500 affordable rental homes in 2019,” the Lord Mayor said. 
“We recognise that a vibrant and inclusive city relies on a diverse community and a range of housing options.
“It’s expected that the COVID-19 pandemic will lead to an even greater demand for affordable homes in the short term.”
The proposed Strategy also commits Council to leasing one of its owned sites to develop an affordable rental housing project. 
The City of Melbourne is currently working in collaboration with PDG Corporation to deliver 48 affordable housing units at the Munro development alongside the Queen Victoria Market, and on plans for 40 affordable housing units at the Boyd development in Southbank.
“We’re proud to deliver on our commitments by working with private developers and in partnership with community housing providers to deliver affordable housing,” the Lord Mayor said. 
“The Munro affordable housing units will be managed by a registered housing provider. They will meet the highest design and sustainability standards, offering energy efficient, high-quality homes for our community.”
The City of Melbourne commends the State Government’s recent $5.3 billion commitment to construct more than 12,000 new social and affordable homes. 
“This funding will change the lives of many vulnerable people, and we will continue to advocate for a coordinated response across governments, the private sector, the community housing sector and industry groups,” the Lord Mayor said.
“We look forward to working closely with the Victorian Government and industry to deliver affordable housing in the municipality as part of Victoria’s Big Housing Build.”
/Public Release. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.