A Labor led Melbourne City Council will deliver a rate-holiday to Build-To-Rent developments to stimulate the development of affordable housing in the City of Melbourne delivering a long-term solution for those who cannot afford to live in the inner city.
The Labor housing policy would provide long term rate concessions to development schemes that incorporate social and affordable housing through a Build-to-Rent scheme. New or refurbished developments incorporating 30% of affordable housing, delivered in partnership with a registered housing provider, will receive complete rate forgiveness for 20 years.
“This policy is a game changer,” Labor’s Lord Mayoral Candidate Phil Reed said.
“It’s not unusual for City Governments internationally to offer city tax relief to influence development outcomes. Here in Melbourne, we have an incredible need for affordable housing, but we haven’t seen an innovative solution from City Hall to deliver it – until now.”
If elected, the Labor councillors will work with housing providers to ensure the targeted delivery of homes for those who need it most.
“This pandemic has shown us who the essential workers are in this city, our health workers, our early childhood educators, our cleaners, our medical researchers, they deserve to be able to afford to live near their workplace.”
Mr Reed also noted that the fastest growing cohort of homeless in Australia are singe older women, he says the Labor policy would also provide for a solution for this alarming problem.
The scheme will be capped to a maximum of 20,000 dwelling approved during Labor’s first four years in office.
The Member for Macnamara, Josh Burns, whose electorate covers the southern part of the City of Melbourne endorsed the policy.
“In a city as progressive as Melbourne, we need these genuine housing solutions. Not only will this provide affordable housing for those most in need, it will revitalise areas that have been hit hard in 2020 brining residents back into the city and filling it with life,” Mr Burns said.