THE National Housing Finance and Investment Corporation (NHFIC) is set to provide around $33 million in financing to community housing provider Housing Choices Tasmania (HCT).
The funding to HCT will enable the provider to deliver up to 181 much needed social and affordable dwellings in Tasmania.
The loan is in support of the Tasmanian government’s Community Housing Growth Program – New Social Housing Supply program (CHGP), which is targeting the construction of 1,000 social housing dwellings by the end of 2023.
The agreement covers projects worth approximately $60 million and aims to increase the supply of social housing across the state, for those eligible on the social housing wait list.
“I’m delighted to see this project delivering additional homes in Tasmania. It’s more important than ever that we work together to ensure there is an adequate supply of affordable housing where it is needed,” said Julie Collins, minister for housing.
“The Australian Government will continue to work with the Tasmanian Government, along with all other State and Territory Governments, to deliver more social and affordable housing.”
NHFIC will provide HCT with up to $31 million in loans and $1.92 million in grants.
While under the National Housing Infrastructure Facility (NHIF), $8 million of the funding will be provided to support roads and services infrastructure across 8 development sites.
“Through Homes Tasmania we are pleased to provide $24.43 million in capital funding to support Housing Choices to deliver their program of 181 homes around Tasmania,” said Guy Barnett, Tasmanian minister for housing.
The 181 dwellings will be built to suit a wide range of potential residents, including those with mobility issues.
“We’re thrilled to be able to deliver this sizeable package to support the Tasmanian Government’s ambitious Community Housing Growth Program, working closely with our CHP partner Housing Choices Tasmania,” said Nathan Dal Bon, CEO at NHFIC.
“Given the acute housing challenges in Tasmania, it is pleasing to leverage both our bond aggregator and infrastructure facility to ensure more social housing is built and brought to market sooner.”
“The partnership with NHFIC has provided us with stable, long term financing that allows us to substantially expand our housing supply to Tasmanians locked out of home ownership and private rental. And we are very pleased to be building on our strong relationship with the Tasmanian Government and NHFIC to help meet the ever-increasing demand,” said Michael Lennon, managing director at HCT.
According to Kim Bomford, general manager at HCT, the social housing provider currently boasts a portfolio of more than 2,100 dwellings, with this latest expansion set to positively impact the lives of those on the wait list.
“This significant supply program, supported by NHFIC and the Tasmanian state government, will enable us to assist more vulnerable Tasmanians to access long-term, affordable housing and as a consequence, a range of life opportunities,” concluded Bomford.
