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We can all agree that last year has highlighted the vital role that key workers play in our society. We have been collaborating with the City of Melbourne over the past two years to design a Key Worker Program, where seven reserved apartments at 393 Macaulay Road, Kensington are offered with a 20% rental concession.
As part of the Assemble Futures model, eligible key workers will receive a 20% rent concession for the total lease period (five years), and the option to purchase the property at an agreed price at the end of the lease period. Please note, the concession applies to the rental amount only; not the purchase price.
Assemble Futures allows you to rent your home for five years while you save to buy it, treating it as your own from the day you move in. The rental fees and future purchase price are agreed upfront, so you have a fixed goal to save towards. If life takes you elsewhere and you decide not to purchase, you can hand back the keys and have your bond released as per the standard RTBA process.
You will be supported throughout your lease period with free financial coaching and bulk buying discounts on many everyday items, such as coffee, toilet paper, car rental and toiletries.
393 Macaulay Rd is our first project to be delivered via Assemble Futures. Designed by Fieldwork, the project comprises 73 apartments over 8 levels, its located three kilometres north-west of Melbourne’s CBD in Kensington. This project is currently under construction with resident due to move in mid-late 2021.
At the heart of our design is a landscaped, open-air walkway that will bring cross-flow ventilation and dual aspect natural light to our residents’ homes. The entire community will be connected through communal spaces on the upper and ground floors: places for work, eating and leisure. You can read more about the project in the brochure.
For more infomation, please reach out to Heather on 0421 334 213 or [email protected]
If you are successful in your application for a key worker apartment, you will be required to sign the following documents:
1. Tenant Acknowledgment
This confirms you understand the key terms of the Assemble Model Documents comprising the Agreement for Lease and Contract of Sale. You will be required to sign this Tenant Acknowledgment at the time of signing the Assemble Model documents.
2. Agreement for Lease
An Agreement for Lease (AFL) is used when a landlord (in this case Assemble) grants a tenant (you) a lease in the future and is often used before the premises, the subject of the Lease, have been built. The AFL sets out the agreed rent and lease term and comprises the Lease which gives you the right but not the obligation to lease your apartment for up to 5 years. The AFL also contains the plans and specification of your apartment.
3. Contract of Sale
The Contract of Sale will give you the right but not the obligation to purchase your apartment for the agreed price, after 5 years of leasing.
You can review all the above here.
1. The individual (or household of more than one individual) must not earn more than the moderate income range consistent with Section 3AB of the Planning and Environment Act 1987 as outlined below (note these income bands will be reviewed by state government 30 June 2021),
2. The key worker applicant must be aged 18 years or over,
3. The individual (or household of more than one individual) must be in some type of employment,
4. The employment must be for a ‘Key Worker’ occupation, as described below, and
5. The key worker applicant must work or be about to commence work within the City of Melbourne or surrounding suburbs.
Possible occupations (but not limited to):
Carers and social workers
Hospitality and service industry
Arts and culture
Social enterprise and not for profit
Moderate income earners as defined by the state government as of June 30, 2020:
$41,751 to $62,610
Couple, no dependent:
$62,621 to $93,920
Family (one or two parents) and dependent children:
$87,671 to $131,500
Please note, the government may change these amounts from July 1, 2021.