The Victorian government has signed an “innovative” deal that will deliver over 1,000 homes in the state through a PPP.
The “first of its kind” deal will see a consortium of Community Housing Limited, Tetris Capital, the National Housing Finance and Investment Corporation, Icon Kajima, and Citta Property Group deliver, finance, operate and maintain the new homes, handing back the builds after 40 years.
Described as an “innovative new partnership”, the not-for-profit Building Communities consortium will play a pioneering role in the state’s A$5.3bn Big Housing Build programme, the country’s largest social and affordable housing plan.
“This project delivers benefits immediately and in the long-term, with hundreds of new social and affordable homes as soon as the project is finished, and more than a thousand at the end of the lease,” said Richard Wynne, minster for housing.
Work is expected to begin in late 2021, with 2024 targeted for completion.