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Approximately $31 million in loans and $2 million in grants will be provided by the NHFIC to a community housing provider in Tasmania.
The National Housing Finance and Investment Corporation (NHFIC) has announced it will provide approximately $33 million in financing to Housing Choices Tasmania (HCT).
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The money will come from the government entity as part of its mission to provide long-term and low-cost finance and “capability building assistance” to registered community housing providers (CHPs) to support the provision of more social and affordable housing.
According to the NHFIC, the HCT funding will consist of up to $31 million in loans and $1.92 million in grants to help deliver up to 181 social and affordable dwellings in Tasmania. The housing will reportedly be suitable for a wide range of residents including those with restricted mobility.
Under the National Housing Infrastructure Facility (NHIF), $8 million of the funding will be provided to support roads and services infrastructure across eight development sites.
NHFIC chief executive Nathan Dal Bon stated: “We’re thrilled to be able to deliver this sizeable package to support the Tasmanian Government’s ambitious Community Housing Growth Program, working closely with our CHP partner, Housing Choices Tasmania.
“Given the acute housing challenges in Tasmania, it is pleasing to leverage both our bond aggregator and infrastructure facility to ensure more social housing is built and brought to market sooner.”
The general manager of Housing Choices Tasmania, Kim Bomford, welcomed the “meaningful boost” that will expand on the 2,100 dwellings already in the HCT’s portfolio.
“This significant supply program, supported by NHFIC and the Tasmanian state government, will enable us to assist more vulnerable Tasmanians to access long-term, affordable housing and as a consequence, a range of life opportunities,” she said.
The funding will support the Tasmanian government’s Community Housing Growth Program (CHGP) to construct 1,000 social housing dwellings by the end of 2023.
The tripartite agreement, covering projects worth approximately $60 million, aims to increase the supply of social housing across Tasmania for those eligible on the Tasmanian social housing wait list.
Tasmanian Minister for Housing, Guy Barnett, commended Housing Choices Tasmania for their construction project underway.
“Through Homes Tasmania, we are pleased to provide $24.43 million in capital funding to support Housing Choices to deliver their program of 181 homes around Tasmania,” Mr Barnett said.
He added that the new housing would provide safe and secure housing for Tasmanians on the housing register.
The federal Minister for Housing, Julie Collins, commented: “I’m delighted to see this project delivering additional homes in Tasmania. It’s more important than ever that we work together to ensure there is an adequate supply of affordable housing where it is needed.
“The Australian Government will continue to work with the Tasmanian Government, along with all other State and Territory Governments, to deliver more social and affordable housing.”
[Related: Tasmanian borrowers ‘beg’ for home loans as rents sting, broker reveals]
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