NHFIC to provide up to $70 million to support 162 social and affordable homes in NSW
The National Housing Finance and Investment Corporation (NHFIC) has agreed to provide approximately $70 million in funding to community housing provider BaptistCare NSW & ACT to support their participation in the NSW Government’s Social and Affordable Housing Fund (SAHF) Program in Carlingford, NSW. With the loan to BaptistCare, 10,000 homes have been delivered in NSW with NHFIC funding over the past 4 years.
In March 2017, BaptistCare was awarded the delivery of 500 new social and affordable dwellings under a 25-year contract with the NSW Government. The Carlingford project is the final stage of BaptistCare’s NSW SAHF program to be delivered, with NHFIC providing approximately $214 million in loans to the community housing provider.
Constructed during 2021-2023, the development in Carlingford comprises 162 one-, two- and three-bedroom apartments. The apartments will house over 55’s and single-parent families, at risk of homelessness and those impacted by domestic violence. Residents will have access to tailored support services including home care services for seniors, and counselling services and chaplaincy support for all tenants. The development also includes a community centre, play area for children and basement carpark.
The first tenants will move in from July 2023 and BaptistCare will manage the property.
Savings from NHFIC’s funding of the Carlingford project will assist BaptistCare in managing a more sustainable housing portfolio, and support further investment in the potential development of social and affordable homes.
Minister for Housing Julie Collins said: “It’s fantastic to see so many new social and affordable rental homes being supported through this new funding partnership.”
“The Albanese Government’s ambitious housing reform agenda will support the construction of thousands of new rental homes right across the country just like this Carlingford development.”
NHFIC CEO Nathan Dal Bon said “NHFIC is pleased to support the NSW Government’s Social and Affordable Housing Program and partner with BaptistCare, to increase the supply of much needed social and affordable housing in NSW at a time many families are facing the challenge of rental stress. This project will deliver more community housing where it is needed most and provide better housing outcomes for people over 55 and single parent families at risk of homelessness and those impacted by domestic violence.”
BaptistCare Charles Moore CEO said “We’re thrilled to be providing this new high-quality social and affordable housing. BaptistCare Gimbawali Place in Carlingford will be an active and friendly community with a focus on wellbeing. Our housing is so much more than just a roof overhead; tenants will have reassurance and support from our on-site team and tailored support coordinators who will provide support to access services and build independence. Most importantly, BaptistCare Gimbawali Place will deliver much-needed affordable and secure tenancies that puts people first and ensures their stability.”
Background
The Federal Government has introduced legislation to transition NHFIC into Housing Australia, with expanded responsibilities to support delivery of their Housing Policy agenda. The legislation includes renaming NHFIC as Housing Australia with primary responsibility for delivering 40,000 new social and affordable homes over 5 years from 2024. This comprises 30,000 homes to be delivered with funding contributions from the Housing Australia Future Fund (HAFF) (20,000 social, 10,000 affordable) and 10,000 affordable homes under the National Housing Accord. These additional responsibilities are subject to the passage of the legislation. NHFIC will continue to deliver the Home Guarantee Scheme (HGS), the Affordable Housing Bond Aggregator (AHBA) and the National Housing Infrastructure Facility (NHIF, which was recently expanded as part of the Federal Government’s 2022 housing election commitments).