A new affordable housing development in Bowden will help more South Australians achieve the great Australian dream of owning a home and provide a huge construction jobs boost from mid-year.
Located just minutes from the CBD, close to the tram and trendy cafes, the new 34-apartment Nightingale Bowden development will support 700 jobs and is a partnership between the Marshall Liberal Government, community housing provider Housing Choices and developer Nightingale Housing.
At least 75 per cent of the new $10 million Nightingale Bowden development will be allocated to affordable housing, meaning the one-or-two bedroom apartments will be priced at $419,750 or less and available for eligible South Australians to purchase.
According to realestate.com.au, the current median house price in Bowden is $552,000.
The State Government is backing this project by underwriting up to $5.5 million of this not-for-profit development.
Construction on the Nightingale Bowden development will start in the second half of 2021.
Features of the new development include:
* A minimum 5 Star Green Star and 7.5 Nationwide Housing Energy ratings
* Landscaped rooftop garden
* Solar power and rainwater
Minister for Human Services Michelle Lensink said this innovative partnership was another example of the Marshall Liberal Government, the community housing sector and developers working together to build new affordable housing in South Australia.
"Not only will the new Nightingale Bowden development help more South Australians get their foot in the door of homeownership, it is set to support vital jobs in our construction industry," said Minister Lensink.
"Affordable housing developments like this one give low-and-moderate income South Australians the chance to purchase housing and not be priced out of the market by sky high auctions and investors because homes are sold at fixed prices and we know many South Australians are looking for the perfect, affordable home to buy right now.
"Located close to the CBD, the tram and the trendy streets of Bowden, Brompton and Croydon, there is no doubt many South Australians would love to call this neighbourhood home.
"We want to empower more South Australians to own their own home and over the next five years, the Marshall Liberal Government has committed more than $400 million to deliver more than 1000 new affordable homes across South Australia.
"With interest rates at record lows and a range of Government grants available for home buyers, there has been no better time to buy real estate than now."
Housing Choices SA Managing Director Michael Lennon said the organisation was "very excited to be launching this partnership with the State Government."
"This project will support jobs for South Australians and demonstrate that by working together we can respond to the growing need for new social and affordable housing both for rent and purchase," said Mr Lennon.
"Nightingale Bowden will deliver quality housing at an affordable price in a great location.
"The energy efficient design will pass on important lifestyle, cost savings for families and contribute to a better standard of living. Residents will experience new levels of community, transport and CBD connectivity."
Nightingale Housing founder Jeremy McLeod said Nightingale Homes exists to revolutionise the way we live together.
"We are committed to delivering carbon neutral housing for everyone in our community. We want to create a pathway to homeownership for first home buyers, and we want to create medium density housing that's great to live in, reduces cost of living, that's highly energy efficient and has a strong sense of community," said Mr McLeod.
"We prioritise people over profit and we are privileged to work with Housing Choices SA and the South Australian Government towards a common goal of a better housing future for all South Australians."
Eligibility criteria to buy a home through the Affordable Homes Program includes income and asset limits and buyers must not currently own a property and plan to live in their new home.
For more information about the Affordable Homes Program and for eligibility criteria visit: https://affordablehomes.sa.gov.au/
For more information about this project visit: nightingalehousing.org
For more information about living at Bowden visit: www.lifemoreinteresting.com.au
