Funding announced for the Social Housing Growth Fund
May 18, 2020
The Victorian Government has announced the next tranche of funding through the Social Housing Growth Fund (the Growth Fund). The Victorian Government has advised that this additional funding will assist in delivering 780 new social housing dwellings across 25 locations in Melbourne and regional Victoria.
The Growth Fund, which was established in 2018, is a dedicated fund which supports innovative partnerships between the Victorian Government and consortia including community housing, private, not for profits and local government sectors to create an investment pipeline for new social housing. The Growth Fund offers funding within two separate program areas. This includes funding to be provided to either the construction of new social and affordable housing dwellings on non-Victorian Government Land and recurrent funding to lease new dwellings from the private sector.
A number of social housing properties which are currently funded through the Growth Fund are set to be completed throughout the course of this year which are located in Hampton Park, Grovedale, Mernda, Bundoora and Thornbury. The Victorian Government has advised that over the first five years of the fund being established, the Growth Fund will create approximately 2,200 new dwellings and leases.
The first round of applications from consortia is now closed however announcements regarding funding future rounds are expected to be made in the future.
Further information on the Growth Fund can be accessed here. Alternatively, if you wish to discuss this matter further with a HIA representative, please contact Teresa Davis via email or 03 9280 8230.