CHL forms landmark partnership in one of the first large scale inclusionary rezoning projects in Victoria
As part of one of the first large scale inclusionary rezoning projects in Victoria, 150 new affordable homes are going to be available for renting in Melbourne’s north east by 2020 – thanks to an innovative public private partnership.
National not for profit housing provider Community Housing Ltd (CHL) has been successful in forming a landmark partnership with private developers, Alpha Partners to deliver affordable housing in The Village Alphington, the proposed neighbourhood centre including retail and community hub, to be developed on the former Amcor paper mill site in the scenic suburb of Alphington located approximately 6.5 kilometres from the Melbourne CBD.
Development Plan approval has been obtained for the paper mill site which will have 2,500 new dwellings with a mix of apartments, townhouses and single family homes.
The Village will be the community hub of the new development, with retail, residential and commercial facilities in addition to a new community centre.
Steve Bevington, Managing Director of CHL Group said, “This will be the first large scale inclusionary rezoning project in Victoria demonstrating a successful public-private partnership between a private developer and a not for profit housing provider in delivering much needed affordable rental housing in the State. Community Housing Ltd has been chosen as trusted partner in this project owing to its experience, capability and capacity to deliver large scale affordable housing projects.”
CHL has more than 6,300 properties under its management nationally with over thirty percent located in Victoria alone.
Alpha Partners is a boutique property investment firm that purchased the Amcor site in 2013 together with Alphington Developments.
As part of the partnership, CHL will lease one and two bedroom apartments from the developers at a fixed rent for 10 years that will be subleased to eligible tenants at below 75 per cent market rent. CHL will retain the titles to ten apartments as part of the agreement.
“The primary target tenant group will be essential service workers on moderate incomes who provide key services in the community such as nurses, hospitality workers, teachers and childcare specialists so they can have easy access to their jobs, public transport and other amenities.
This means essential services remain in the community whilst ensuring less travel time and a better quality of life for the tenants.
This will be a landmark project for mixed accommodation model encouraging social inclusion, housing and resident diversity and Alpha Partners should be commended for their collaborative approach and for delivering on their commitment”, adds Steve.
Guy Nelson, Managing Director of Alpha Partners stated that “Alpha’s vision for the site has always been about creating community. We are very excited that through our partnership with CHL we will be able to deliver affordable housing within The Village Alphington enhancing and building on our vision for a true neighbourhood and community hub”.