Builders have been appointed for 14 new housing projects in Perth, aiming to deliver more than 1000 affordable and social homes.
Housing Minister John Carey said it’s proof “we are getting momentum” in the race to meet the target to build 24,000 new homes in WA each year.
“This is a really significant milestone,” he said.
“These longer-term projects will provide that critical housing that we need into the future.”
PACT Construction is delivering the 14 build-to-rent projects confirmed on Friday in White Gum Valley, Ellenbrook, Wellard, Kelmscott, Subiaco, Butler and Bassendean.
EMCO Building will develop apartments in Woodbridge, Rivervale, Redcliffe, Cannington, Malaga and Midland.
Icon constructing is building a 29-storey apartment block at Pier Street in East Perth, where construction is on track to be complete in 2027.
The Pier Street project will have 219 units, including 30 per cent social housing, but only parking for 163 cars.
“The idea is that this is transit-oriented development,” Mr Carey said.
“There is an expectation that public transport will be a key component of your life.”
Construction of each project is expected to take between 16 and 30 months, and is funded through the Federal Government’s Housing Australia Future Fund, with the State Government chipping in $443 million.
Upon completion, community housing providers will manage affordable rentals with an income cap and private market rentals.
“They own the whole project,” Mr Carey said.
“Those ones will be 80 per cent affordable, 20 per cent social housing. And the way it works, why we use the community housing model is they’re able to get loans and payments from the Federal Government, that makes the model work.
“It can be set at someone’s income, or it can be set at a percentage below the rental market. Ultimately, it will mean cheaper rentals in the housing market.”
https://thewest.com.au/politics/state-politics/milestone-for-build-to-rent-projects-aiming-to-solve-perths-rent-squeeze-c-19765093
