DEVELOPER Jinding and not-for-profit social enterprise Homes for Homes are partnering up to deliver close to $200,000 for social and affordable housing in Victoria.
Jinding is set to donate 0.1% of the sale price of each lot at its recently launched Broadstead Kilmore development, which sits around an hour north of Melbourne, to Homes for Homes.
“We know homelessness is getting worse and with a predicted shortfall in social and affordable homes of one million by 2036, real solutions are needed now more than ever,” said Chris Ravat, head of development – communities, at Jinding.
“That’s why we’re proud to partner with Homes for Homes because it offers a tangible way of generating the funds needed to build these homes.”
Upon settlement at the first release at the 500-lot development in Mitchell Shire, more than $16,000 will be generated.
The social and affordable housing will service marginalised and disadvantaged Victorians in the broader community.
“The beauty of the Homes for Homes scheme is it offers a concrete pathway for continual donations if homeowners elect to keep the 0.1 per cent sale price caveat on their land title, ensuring each time the property is sold, more funds go towards Homes for Homes,” added Ravat.
“It is also great for our homebuyers to know they can buy their dream property and help to put a roof over the head of our most disadvantaged at the same time.”
The not-for-profit has estimated a total of $1.4 million could be raised over the next three decades.
“Homes for Homes is excited to partner with Jinding on their Broadstead development. Each contribution from this development helps us work towards a future where every Australian has access to safe and secure housing,” said Tracy Longo, chief operating officer at Homes for Homes.
“We thank the Jinding community and residents for coming together on such a critical issue.”
Broadstead Kilmore sits on a 60-hectare land parcel off Quinns Road with the masterplan including 11-hectares of green space, an adjoining a proposed government primary school site, sporting ovals and connections to the local bus line.
Last month, Homes for Homes granted support to four more social and affordable housing projects across Victoria and the ACT, in the sixth round of grants the not-for-profit has used to provide funds to social and affordable housing projects and the first-time grants have been provided to the Victorian City of Casey.
