A $70 million, 130-plus apartment ‘Build to Rent’ project on Adelaide’s city-fringe will deliver an increase in social housing plus dozens of affordable rentals for key workers including nurses, police and ambulance officers.
Park Court, on Greenhill Road at Eastwood, is the former site of 29 public housing homes. The prime location is next door to the Air Apartments, across the road from the southern parklands and gives easy access to the city, hills and suburbs.
The project will be supported by up to $50 million in grants and loans from the Commonwealth’s National Housing Finance and Investment Corporation (NHFIC) along with around $15 million in land and grants from the SA Housing Authority.
The new development will deliver between 30 and 50 social housing properties with income-based rents to help people on low and fixed incomes. Other apartments, featuring a mix of one, two and three-bedrooms, will include homes rented at 25 per cent below market rates with a focus on key workers.
Announced today by Federal Housing Minister Julie Collins and South Australian Human Services Minister Nat Cook, it is an innovative new federal-state partnership to help address Australia’s housing challenges.
The SA Housing Authority expects to finalise selection of a community housing provider in early 2023 to build and manage the shovel-ready project. Previous tenants have been relocated to new homes and the site is ready for demolition works and construction.
Earlier plans for the site were reviewed by the Malinauskas Labor Government to ensure the delivery of more social housing and to boost investment through a partnership with the Albanese Federal Labor Government.