Affordable Housing
Metro Community Housing is inviting Expressions of Interest for Affordable Housing which will be available in early 2024
Metro Housing is excited to announce that we are currently undertaking a development which will allow us to offer several excellently located, newly built studio units in Sloane Street Summer Hill. We expect these units will be available in late January/early February 2024.
We are now inviting expressions of interest from people who live or work within the Inner West Local Government Area. To be eligible for affordable housing you must be an Australian Citizen or Permanent Resident; earn between $51,700 and $70,100 per annum; and not have assets (ie an existing property or sufficient cash assets to allow you to purchase a property).
Rent will be set at 74% of the market rent (as per the median rent amounts in the quarterly NSW Sales and Rent report).
If you are a single person that meets the eligibility criteria please send an expression of interest to reception@metrohousing.org.au
In response to the strong need to increase the supply of affordable housing, the NSW Government has created new planning incentives through the State Environmental Planning Policy (SEPP).
The Affordable Rental Housing SEPP aims to increase the amount and diversity of housing types and make it easier and quicker for owners and developers to build affordable housing.
The SEPP encourages new partnerships between the private and community housing sector by offering density bonuses for the construction of new housing that incorporates a percentage of affordable rental housing.
These partnerships are also designed to allow developers to access the benefits of the National Rental Affordability Scheme (NRAS) and the Economic Stimulus package funding.
New construction which includes affordable housing is to be managed for a period of 10 years by a Registered Community Housing provider. After this period the owner/developer can sell the property/ies or rent them at market rent.
Metro Community Housing meets the criteria to access these incentives and invites partnerships with owners/developers wishing to be involved in the development of affordable housing.