The Federal Government is investing $6.2 million in a social housing redevelopment project in Riverwood, New South Wales, as part of its Social Housing Accelerator program. This initiative aims to increase housing supply and provide more Australians with secure homes.
Development Details
The New South Wales Land and Housing Corporation is overseeing the construction of 11 homes for seniors at Methuen Parade, Riverwood. These will consist of five one-bedroom and six two-bedroom units.
The development involves replacing three existing dwellings and is strategically located near Narwee shops and local transport.
Construction is scheduled to commence this month, with completion expected by September 2024. The entire project will be funded by the Social Housing Accelerator.
Boosting Social Housing Supply
This project is the first of many planned under the Social Housing Accelerator in New South Wales, which aims to add approximately 1,500 social homes to the state’s existing social housing portfolio.
Collaborative Housing Reforms
The Australian and New South Wales governments are collaborating on significant housing reforms, including the National Planning Reform Blueprint, A Better Deal for Renters, the New Homes Bonus, and the Housing Support Program. These initiatives collectively strive to create 1.2 million well-located homes, incentivize housing reforms, and support new housing supply.
Continued Commitment to Affordable Housing
The New South Wales Government is committed to establishing Homes NSW, an agency focused on improving outcomes for public and social housing tenants, increasing affordable and social housing, and reducing homelessness in the state.
This initiative underscores the determination of both federal and state governments to address housing affordability and ensure that every Australian has access to safe and secure housing.
