On 11 October PIA (The Property Industry Alliance) proudly sponsored the Urban Task Force’s Innovation Breakfast supporting the redevelopment of the Ivanhoe Estate near Macquarie Park. Ivanhoe Estate will be the biggest social and affordable housing renewal development in Australia, and the first of five major sites delivered under the $22 billion Communities Plus program.
The redevelopment contract has been awarded to the Aspire Consortium by the NSW Government. The consortium comprises development partners Frasers Property Australia, Citta Property Group and community housing partner, Mission Australia Housing.
Ivanhoe estate will be redeveloped into an integrated community of around 3,000 homes including at least 950 social housing units and 128 affordable rental units over the next 10 to 12 years.
The Hon. Pru Goward MP, NSW Minister for Social Housing said the Ivanhoe project is more than just housing; it’s a new way of delivering sustainable housing to those who are in need of social and affordable housing. “Through communities like Ivanhoe, the NSW Government will help residents break the cycle of disadvantage by providing tailored and co-ordinated support so they can move toward housing independence. The redevelopment will provide $120 million towards social and community infrastructure including; education, child care centres, range of community facilities, public space and a retail centre”
PIA has had long term collaboration with Urban Taskforce and have been an avid contributor and supporter of affordable and sustainable housing initiatives.
“We were excited to be involved in this event. For the past 12 years, PIA have worked closely with development partners and investors to address the housing supply challenge. During this time we’ve contributed more than 10,000 properties to this cause. Over the next decade, our challenge, and the industry as a whole, is to address housing affordability. It is reassuring to see the collaboration being achieved to address the critical issue of housing affordability and sustainability”. Justin Wang, Managing Director and Founder - PIA
The Communities Plus program will deliver up to 23,500 new and replacement social and affordable housing dwellings, and up to 40,000 private homes over the next 10 years. Other major sites include Waterloo, Arncliffe, Telopea and Riverwood. The key focus of the project is to address housing needs while providing practical opportunities to transition social housing residents to housing independence through education, training and employment opportunities.
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