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The Perrottet government will be unlocking an extra 70,000 new homes across NSW to further increase housing supply in the state.
The $73.5 million Rezoning Pathways Program will see 10 land rezonings, mainly in Western Sydney, NSW Premier Dominic Perrottet said.
The program is a part of the government’s larger $2.8 billion housing package, according to Minister for Planning and Minister for Homes, Anthony Roberts.
The NSW government will assess certain state or regionally significant planning proposals or lead the rezoning work from beginning to end, targeting all land to be rezoned by 2024.
Mr Roberts stated the program comprises a pilot process for proponents proposing more than 1,000 homes in the metropolitan areas or over 300 regional areas that could be assessed by the state’s government.
The state government will be leading the work to unlock new homes in Broadmeadow, Newcastle; Camellia-Rosehill; Explorer Street, Eveleigh; Macquarie Park State 1; Orchard Hills; Parramatta North’s University and Northern Sites and; Riverstone East Stage 3.
In addition, the NSW government will be in charge of assessing planning proposals that could create new housing in Appin, North Appin, and Gilead.
Mr Perrottet said: “Working with councils, rezoning is one important lever that we are pulling to get the ball rolling on more housing supply across our state.
“We are throwing everything at getting more houses built so more people get keys in doors and can realise their dream of owning a home.
“We are focusing our efforts on some of the fastest growing areas in Western Sydney to help more families get into homes sooner.”
Mr Roberts stated that they are “creating a pipeline for tens of thousands more homes” in order to provide more people in NSW with the opportunity of housing.
“This is all about accelerating the rezoning of key housing areas to make more land development-ready for new homes,” Mr Roberts said.
“We want projects that can make a difference to our housing supply quickly, which is why we are seeking nominations for proposals that are well advanced with a planning proposal able to be submitted within two months.”
Westmead housing project gets green light
The National Housing Finance and Investment Corporation (NHFIC) through a partnership with AXA IM Alts and community housing provider St George Community Housing (SGCH) has committed a $300 million project to deliver 350 homes for key workers in Westmead NSW.
The NHFIC is set to provide a loan of around $150 million along with additional funding from AXA IM Alts (acting on behalf of clients) under the first stage of a larger financing commitment for the Westmead housing project.
[RELATED: $300m affordable housing project gets green light: NHFIC]
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