More co-op homes on the way
CEHL has been awarded $10 million toward building 34 affordable homes as part of the first rapid round of funding from the Victorian Government’s Big Housing Build.
The funds will contribute to delivering affordable co-operative housing in the Greater Geelong area (14), Bundoora (10), Endeavour Hills (8) and Frankston (2). CEHL has also committed $6.7 million towards construction of these properties which will be completed over the next two years.
Acting Managing Director Brad Hosking said
“This investment is in recognition of CEHL’s co-operative housing program and the role co-op housing has in the sector.”
“We will work with our member co-ops to expand and grow the sector, so more people can access co-operative housing.”
“We look forward this and further opportunities to work closely with Homes Victoria on this landmark investment in social housing to deliver new homes for Victorian renters.”
The location of new properties is informed by detailed analysis of completed co-op Future Direction Plans balanced with available opportunities to acquire stock from developers or where we have existing CEHL owned sites that are able to be redeveloped.
Big Housing Build Rapid Round: Key facts and figures
- The partnership between Government and Community Housing Organisations will deliver more than $1 billion of new housing.
- Homes Victoria is investing almost $739 million with 22 Community Housing Organisations contributing a combined $271 million towards these developments.
- This partnership - this joining together to meet a common need - will deliver at least 2,300 new homes across 38 metropolitan and regional Local Government Areas.
- These projects will create a minimum of 9,000 jobs. That’s 2,000 direct and 7,000 indirect jobs for people throughout Victoria.
Link to Victoria’ Big Housing Build
Link to announcement in Star News - Boom for new homes in Casey