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We are proud to announce our partnership with national not-for-profit housing provider, Housing Choices Australia, to manage community housing across our future projects.
Homes for change – our recently launched housing agenda – is focused on addressing our nation’s critical housing shortage and this partnership is a solution for many Australians needing secure tenure housing.
A first of its kind for build to rent in Australia, the initial tranche of projects delivered as part of the partnership will provide more than 3,300 dwellings for low- and moderate-income households, facilitating ~$1.5 billion in long-term institutional capital investment.
The partnership will see Housing Choices Australia manage and allocate tenants within the low-income housing component of each community, comprising at least 20 per cent of the dwellings delivered. The balance will be delivered by Assemble as affordable rental housing targeted at low- to moderate-income households.
Housing will be delivered under long-term ground lease arrangements across six of Assemble’s development sites in inner and middle-ring Melbourne, including a project on Carinish Road, Clayton.
Groups offered tenancy may include women experiencing domestic violence, young people living with disabilities, or key workers on low, fixed incomes that provide essential community services.
Assemble Managing Director, Kris Daff said: “We are proud to partner with Housing Choices Australia to deliver much needed long-term mixed-income rental housing. Our partnership demonstrates how the private and not-for-profit community housing sector can work in unison to deliver real solutions to Australia’s critical housing shortage,” said Mr Daff.
“At a time that has been socially and economically devastating for Victoria, fuelled by uncertainty in housing tenure and barriers to home ownership, our communities need support now more than ever to ensure we do not reach crisis point. We see mixed-income communities as a blueprint for the future of Australian housing,” said Mr Daff.
Housing Choices Australia Managing Director, Michael Lennon said although new to Australia, build to rent is widely adopted internationally: “The establishment of build to rent as an asset class reflects the growing maturity of the community housing sector in Australia.”
“International examples of build to rent offer a wider array of housing choices, enrich city communities, benefit local economies and most importantly, take pressure off the housing system overall,” said Mr Lennon.
Assemble Director, Partnerships, Tom Billings said Housing Choices Australia is a natural partner and was selected following a rigorous review of various community housing providers.
“We are stronger together with our shared vision to provide quality long-term rental housing to more Australians,” said Mr Billings.