This article is from the Australian Property Journal archive
THE ACT Government and Community Housing Canberra have entered into an agreement to build a thousand affordable homes for rent and sale.
The ACT will provide a $50 million finance facility for CHC to invest in affordable housing – the first time a government in Australia has worked with a community organisation on such an innovative scheme.
Chief Minister Jon Stanhope said the exchange of contracts with Community Housing Canberra puts in place another important plank of the ACT Government’s Affordable Housing Action Plan.
“With this loan the Government is helping CHC to deliver an ambitious 10 year development program that aims to provide 500 dwellings for rent to low-to-moderate income households, and 500 dwellings for sale to moderate income homebuyers.
“The ACT Government is the first in the country to provide such a facility to a community organisation and I’m sure this innovative scheme will help increase the affordable community housing base in Canberra,” he added.
The Affordable Housing Action Plan is aimed at providing new house and land packages priced between $200,000 and $300,000.
Australian Property Journal
