Friday, July 19, 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

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
- Advertisment -spot_img
- Advertisment -spot_img

Sydney’s best ‘top 20’ result in prestigious world rankings

The University of Sydney has secured its highest ever ranking overall and continues to be rated as a top 20 global university in the 2025 QS World University Rankings.

Homes NSW to develop North Eveleigh Clothing Store site

The North Eveleigh Clothing Store Precinct will be transferred to Homes NSW for the delivery of 500 new homes, half of which will be social and affordable homes.

A new kind of industry policy

The Trevor Davies Memorial Lecture is an annual event hosted by the Trevor Davies ALP Branch, and the Newtown ALP State Electorate Council. This year, it was held at the Royal Hotel on June 13. Assistant Minister Tim Ayres, a former branch member and Darlington local, was asked to deliver the address.

Volunteers’ News – July 2024

Volunteers’ News – July 2024.

Refreshing approach to food production

REDFERN: On July 21, I was lucky enough to attend the launch of the new website for Native Botanical Brewery (NBB), and to talk to the team behind this new and innovative business.

‘A giant in the fight for First Nations justice’

It is with great sadness that Reconciliation Australia sends our condolences to the family and friends of the Rev. Dr D. Gondarra OAM.