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CHL DELIVERS MORE THAN 500 NRAS-1 and 2 PROPERTIES

CHL DELIVERS MORE THAN 500 NRAS-1 and 2 PROPERTIES

National community housing provider Community Housing Limited (CHL) closes in on the completion of its total allocation of 508 properties under National Rental Affordability Scheme (NRAS) – 1 and 2 across four states: NSW, South Australia, Tasmania, and Victoria.

CHL has been responsible for the delivery of 11% of all properties delivered nationally under the NRAS program to date, which includes the delivery of 55% of all Victorian projects approved under the funding scheme.

CHL’s Managing Director Steve Bevington says the national spread of the NRAS incentives has strengthened CHL’s position as a national provider.

“CHL has completed 87% of NRAS-1 and 2 funded properties to date. Since the scheme started, CHL has delivered more housing and tenancies than any other NRAS recipient. The remainder of the properties will be completed and allocated this year,” he says.

PROGRAM/ PROJECT TOTAL DWELLINGS No. PROPERTIES TENANTED
NRAS 1 – New South Wales 40 27
NRAS 1 – South Australia 50 50
NRAS 1 – Tasmania 54 16
NRAS 1 – Victoria 313 302
NRAS 2 – New South Wales 51 45

 

“CHL has worked in a very challenging environment to keep the costs of delivery within budget, and NRAS funding is vitally needed for CHL to develop these houses and ensure that they are allocated to those in housing need at an affordable rental rate. Besides the growth of new housing, these projects have injected more than $90 million into the construction sector providing employment opportunities in these four states,” says Mr. Bevington.

“Funding for the expansion of the community housing sector in Australia remains an area of major concern. The community housing sector finds itself on the cusp of two eras – the public funding era of which NRAS remains the major funding vehicle for the government, and the asset transfer era in which organisations such as CHL will be looking to secure the title and management of government-owned properties, providing collateral for further financial leverage”, says Mr. Bevington.

“Being an end-to-end supplier of community housing, CHL is able to take advantage of this additional funding via new construction as well as the acquisition of existing properties. We have an affordable housing development division that can work on any size project, from a small cluster of units to large scale multi-residential projects,” he says.

As a not-for-profit, CHL has been a leader in managing its business on strong commercial terms to generate surpluses that it invests back into creating additional affordable housing properties.

Community Housing Limited (CHL) is a national and international provider of affordable housing. Its mission is ‘to provide affordable and sustainable housing for all’. CHL is a registered Housing organisation in Victoria and an approved growth provider in NSW, Tasmania, WA and SA. Its international operations are located in Timor Leste, Chile, and most recently India.

CHL provides an end-to-end integrated operation that manages the entire housing lifecycle. This includes securing funding, locating suitable land, project managing, designing and constructing, then managing the tenancy for the long term that includes collecting rents and maintaining the property.

For more information on CHL, contact:

Preeti Daga

Coordinator – Marketing and Communications

t   03 9856 0021         m 0430 555 241

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