This article is from the Australian Property Journal archive
THE Victorian government’s property development and major projects agency Development Victoria has donated $67,000 to not-for-profit organisation Homes for Homes to help increase the supply of social and affordable housing across the state.
The donation is part of an initiative from the Taylors Quarter residential development in Taylors Lakes. Development Victoria partnered with Homes for Homes to pilot the initiative in 2019, with 0.1% of the sales price for each land sale donated to Homes for Homes.
While the initiative was voluntary for purchasers, there was a high level of uptake throughout the sales process, according to The Big Issue, which runs the Homes for Homes program.
Homes for Homes aims to address homelessness by partnering with developers and property owners to raise funds to increase the supply of social and affordable housing.
All lots within the development are now settled, and the donation was officially presented by Development Victoria’s group head property Penny Forrest.
“It is exciting to see that all lots at Taylors Quarter have now settled, bringing purchasers one step closer to moving into their dream homes, close to shops, schools and public transport.”
Construction of the homes and a new public park are underway.
“We’re committed to increasing the supply of homes for those who need it most and we are proud to have partnered with Homes for Homes to help achieve this,” Forrest said.
Future sales for each of the participating lots will see further contributions made to Homes for Homes.
“Development Victoria has shown great leadership in registering the entire Taylors Quarter development with Homes for Homes. We thank them for their initiative and dedication to supporting those living on the margins,” Homes for Homes CEO Steven Persson said.
The Victorian government’s $5.3 billion social housing program is the largest of its kind in the country. It committed a further $75 million in this week’s state budget for support services to help people at risk of homeless get into permanent housing.
More than 6,000 homes are underway or soon to commence construction with more than 12,000 social and affordable home aimed over the entirety of the program. However, it is up against a social housing waitlist that has just topped 54,000, according to the Victorian Housing Register.
