Making Housing More Affordable In Areas We Need

VIC Premier

The Allan Labor Government is getting on and delivering new social, affordable and market homes in Melbourne’s inner south right where they are needed – close to jobs, transport and essential services.

Minister for Planning Sonya Kilkenny today announced the Labor Government has fast-tracked the approval of more than 150 new homes at Essex Street in Prahran – just a short walk away from Chapel Street.

The 155 new homes including 101 social and affordable homes and 54 market homes are being delivered as part of the Government’s Ground Lease Model, which will be delivered across two residential buildings.

Under a Ground Lease Model, public land is leased for a fixed term to a project group that develop, finance and build new housing before handing the assets back to the Government once the term has finished.

This Ground Lease Model is another lever the Labor Government is pulling to enable 800,000 new homes to be built over the next decade, in areas where people want to live.

The redevelopment will include specialist disability accommodation and will increase the amount of homes previously on the site by 146 per cent, including a 37 per cent increase in social homes.

The new one-to-four bedroom homes will be modern and energy efficient – meaning residents will be warmer in the winter and cooler in the summer, while also saving on power bills.

The project is being delivered as part of the Labor Government’s landmark $5.3 billion Big Housing Build which has delivered 436 new homes with a further 677 homes under construction across the City of Stonnington.

As stated by Minister for Planning Sonya Kilkenny

“We know we need more homes in Melbourne’s inner suburbs and this development does just that – delivering more social, affordable and market homes close to essential services, tram stops, supermarkets, parks and shops.”

“Every Victorian deserves to have a roof over their head and that’s why we’re pulling every lever we can to enable 800,000 homes to be built over the next decade.”

/Public Release. View in full here.