Wednesday, February 28, 2024
HomeNewsGovernment drops Redfern Built to Rent

Government drops Redfern Built to Rent

The NSW Land and Housing Corporation (LAHC) has cancelled Built to Rent (BTR) arrangements entered into for its proposed PCYC – Elizabeth Street Redfern redevelopment.

LAHC is saying that the “proposed planning controls have reduced the yield to a level where a BTR model is not viable and no longer meets the objective of delivering the project at no cost to government”. The planning controls have been developed by the City of Sydney Council.

LAHC has called for expressions of interest to build properties for sale to fund delivery of new public housing. LAHC expects the development will provide 95 social housing homes and a new community facility within a 300-unit redevelopment opposite Redfern Oval.

The Redfern BTR development was to be a test of a model that leased government land for around 40 years for rental properties as an alternative to selling off around 70 per cent of a site to fund 30 per cent new social housing. If the BTR model had worked there was the hope that it could also be used in redevelopments like Waterloo to deliver new public housing without selling off large areas of current public housing land.

_______________

See more on the LAHC website at https://www.dpie.nsw.gov.au/land-and-housing-corporation/greater-sydney/redfern

 

spot_img
- Advertisment -spot_img
- Advertisment -spot_img

The Settlement needs our help

Did your kids go to The Settlement? Did you? Established by Sydney University Women’s College, this wonderful local organisation has been providing services for children and youth in our community for over 130 years. There are grandmothers and fathers in the neighbourhood who went to The Settlement when they were...

Volunteers’ News – February 2024

Welcome back to another year of the South Sydney Herald, still being published in our 23rd year, thanks to your support and readership.

Tennis legends criticised for boycott plea

Tennis greats Martina Navratilova and Chris Evert have been accused of “turning their backs on women” after pushing back on plans to hold the season ending WTA Finals in Saudi Arabia’s capital.

Photos from January 26

Michelle Haywood captures the mood of January 26 with this collection of photos from across South and central Sydney.

Melanoma treatment pioneers awarded 2024 Australian of the Year

University of Sydney Professors Georgina Long AO and Richard Scolyer AO, co-medical directors of the Melanoma Institute Australia, have jointly won the prestigious Australian of the Year award for their pioneering work in the treatment of melanoma.

Living with dementia – a carer’s journey: 1. Diagnosis

My journey of caring for my husband, Stuart, living with dementia began with a trip he made to Monterrey, Mexico.