More people in New South Wales will have access to their own home with a $6.2 million redevelopment of residential dwellings in Riverwood ‑ the first project in the state announced under the Federal Government’s Social Housing Accelerator payment.
The NSW Land and Housing Corporation is delivering 11 homes for seniors at Methuen Parade, Riverwood, configured as five one‑bedroom and six two‑bedroom units.
The development is replacing three existing dwellings, is close to Narwee shops and local transport. Construction is set to begin this month, with completion expected by September 2024. The project will be wholly funded by the Social Housing Accelerator.
The Federal Government announced its $2 billion Social Housing Accelerator in June, including $610 million for NSW, which will increase Australia’s housing supply by creating thousands of social homes across Australia.
This project is the first of many that will boost social housing supply and get more people into homes sooner in NSW, with around 1,500 social homes to be added to the state’s existing social housing portfolio through the Federal Government’s Social Housing Accelerator.
The NSW Government is committed to working alongside the Federal Government to deliver an ambitious housing reform agenda by investing heavily in critical new social and affordable housing supply through various reforms including the Social Housing Accelerator.
Today’s announcement builds on agreement by National Cabinet to the most significant housing reforms in a generation, including a new national target to build 1.2 million new well‑located homes, the National Planning Reform Blueprint, and A Better Deal for Renters.
At National Cabinet, the Federal Government also committed $3 billion to the New Homes Bonus to incentivise states and territories to undertake the reforms necessary to reach the 1.2 million well‑located homes target, and $500 million for the Housing Support Program to help local and state governments deliver new housing supply in well‑located areas.
The NSW Government has also committed to establish Homes NSW to deliver better outcomes for public and social housing tenants, deliver more affordable and social housing and reduce the number of homeless people in NSW.