THE Victorian state government has unveiled a new $104 million affordable homes development in Ascot Vale, amidst the state’s ongoing housing crisis.
The 200-apartment project has replaced 80 out of date walk-ups, with modern accessible one-, two and three-bedroom homes and five fully accessible apartments for those with disabilities.
“This is an exciting day – we’re so proud to unveil 200 beautiful new social and affordable homes, which set a new benchmark for modern, comfortable and energy-efficient homes,” said Colin Brooks, minister for housing.
“We’re increasing housing supply in well-located inner-urban areas of Melbourne to take pressure off the wider housing market – and today we are seeing how these homes are unlocking opportunity for more Victorians.”
The development will include 100 social housing homes, managed by Evolve Housing, providing safe and secure living for victim-survivors, people living with mental illness and other in need individuals and families.
A further 100 homes will be made available via the Affordable Housing Rental Scheme, to help low-income workers, such as disability workers, cleaners and healthcare workers into housing.
The scheme homes will provide an option outside of the in crisis private rental market, with homes offered at less than 10 per cent of Melbourne’s average market rent.
SQM Research data showed national vacancy rates were at just 1.0% in February, while the the share of total properties listed for rent below $400 per week has nearly halved in the past year, according to PropTrack.
The Ascot Vale site is one of more than 900 sites currently funded under the Labor Government’s $5.3 billion Big Housing Build.
The development created more than 800 jobs in the two years of its construction, with the Big Housing Build having created more than 30,000 jobs so far.
The Big Housing Built, which is targeting “quality, comfort and energy-efficient social and affordable homes”, is currently on track to deliver more than 12,000 new homes by 2026.
Under the initiative, more than 7,600 homes have been completed or are now underway since its commencement in 2020, with over 1,700 households having moved in or ready to move into these new homes.
“It’s fantastic to be able to welcome the first renters to these beautiful new apartments. This is the single biggest investment ever in social housing in Ascot Vale, and it will make a huge difference to our community,” concluded Danny Pearson, member for Essendon.
This comes as the Albanese government’s $10 billion Housing Australia Future Fund faces off against Senate crossbenchers, looking to significantly increase the size of the fund, as new data shows a big rise in the number of women experiencing homelessness.
