The Malinauskas Government has revealed five new housing projects intended to deliver hundreds of affordable houses across Adelaide.
The projects – at Bowden, Playford and Prospect – are among the first tranche of SA Government projects to be submitted for support through the $10 billion Housing Australia Future Fund. The National Housing Accord seeks to build one million new homes across Australia from mid-2024.
The Commonwealth is seeking to partner with states and territories to deliver 50,000 new social and affordable homes across Australia from 2024.
South Australia is committed to a pipeline of affordable housing projects, providing the expertise of Renewal SA and land for developments, to partner with community housing providers, developers, and builders to get more South Australians into housing sooner.
The state government is working closely with the Federal Government to progress the following projects:
· Bowden (Second St) – 36 new affordable rental apartments
o Building construction targeted to start by the end of 2024 paving the way for residents to move in by the end of 2025.
o Similar mixed ownership model to neighbouring development, Nightingale Bowden which focused on providing affordable rental and purchase housing for South Australians close to the CBD and public transport
· Bowden (Third St) – 60 new affordable rental apartments
o Building construction targeted to start by mid-2024 paving the way for residents to move in by mid-2025.
o Will include around 200 public and private carparking replacing the temporary on grade car parking at Bowden
o Affordable rentals for South Australians
· Prospect (Churchill / Regency Rd) – two separate and well-located buildings, 72 new affordable rentals
o Building construction targeted to start by the end of 2024 paving the way for residents to move in by the end of 2025.
· Playford Alive (Newton Blvd) – 249 new homes
o Home construction targeted to start in the second half of 2024 paving the way for residents to move in by the end of 2025.
o Includes target of 65 per cent affordable properties.
These projects are in addition to more public homes and the 23,700 allotments already announced.
They are intended to increase affordable housing for young families, single parents, older women, retirees and essential workers.
The projects will help ease pressure on the market, while contributing towards $965 million in additional housing construction activity across South Australia.
The projects are early priorities identified under the Housing Accord, with more set to be identified in due course in conjunction with the Commonwealth and community housing providers.
Affordable rentals use income-based rent capped at 75 per cent of market rent for a property.
Affordable homes are available exclusively to eligible buyers earning less than $130,000 per year as a couple or family, or $100,000 as a single person.
The current price point for affordable homes is $417,000-$479,000 in Greater Adelaide.
Quotes
Attributable to Peter Malinauskas
My government is taking action to address the housing crisis on every front.
For too long, too many South Australians have watched the prospect of a secure home drift further and further away.
This major commitment to delivering affordable homes for purchase and rental will provide more people with the opportunity to enter the market.
Attributable to Stephen Mullighan
In its October budget the Commonwealth asked states to put forward projects for support under the $10 billion Housing Australia Fund.
We are ready to deliver these projects after doing the detailed work early, to position SA as a frontrunner for new investment.
We are already working closely with the federal government to progress these projects, to deliver more affordable housing.
Attributable to Nick Champion
We are pulling every lever to make housing more accessible to more South Australians.
Too many find themselves locked out of a market under immense pressure – which is why we are getting to work on these projects as soon as possible.
This massive supply boost aimed at those who need it most will help put a roof over their heads and realise their goal of long-term housing security.
