This article is from the Australian Property Journal archive
URBAN developer Coronation Property Group and community housing provider Evolve Housing have teamed up to deliver more affordable housing for essential workers.
Under the new partnership, Evolve is set to manage around 150 affordable housing dwellings within Coronation’s $1.5 Billion master-planned urban development project in Erskineville, around 4km out from the Sydney CBD.
The agreement will utilise the incentives under the Housing SEPP legislated late last year where affordable housing is provided and is subject to DA approval.
“The team at Coronation is proud that we’re ‘on the ground’, playing a key role in providing a secure supply of high-quality, affordable rental properties in the heart of Australia’s most expensive City,” said Joseph Nahas, managing director at Coronation.
“We are all excited that our partnership with Evolve means that frontline workers, like nurses and paramedics, can finally get the chance to secure a home – and live close to where they work in the inner-city of Sydney.”
The Erskineville Village site sits close to transport networks, universities and major hospitals, and will be transformed into six buildings, featuring over 1,000 Built-to-Rent (BTR) apartments.
Evolve is one the largest CHPs in Australia, providing housing assistance to key workers and eligible people on low-incomes unable to access appropriate housing.
“We look forward to collaborating with Coronation and providing more affordable housing options for key workers and low-to moderate income earners, who might otherwise find it difficult to afford a suitable rental property,” said Lyall Gorman, CEO at Evolve.
Coronation’s stand-alone subsidiary company, Nation, will operate the Erskineville Village Project, which is slated for completion by 2026. Nation is projected to deliver around 1,500 apartments by 2025.
