Previous ALP State Government media release Nov 8 2010

MEDIA RELEASE

The Hon Frank Terenzini

Minister for Housing

Minister for Small Business

Minister Assisting the Premier on Veterans’ Affairs

__________________________________________________________________________________________

Monday November 8, 2010

Glebe Affordable Housing Plans on Display

Housing Minister Frank Terenzini today announced plans for the $170-million

Cowper Street Glebe Redevelopment Project had been approved for public display by the City of Sydney Council.

Mr Terenzini said this massive project has the potential to deliver up to 486 homes – a fairly even mix of private, affordable and social housing.

“Glebe is an area of high demand with many people on low to moderate incomes being priced out of the local private rental market.

“The Cowper Street Glebe Redevelopment Project will have a big impact on housing affordability in the area, especially for older people wanting to stay reasonably close to the city and all its services.

Mr Terenzini said the concept plans for the Cowper Street project will go on public display at the City of Sydney offices from next Monday (November 15) and that will give local residents the ideal opportunity to have their say on the project.

Member for Balmain Verity Firth welcomed this important first stage of an approval process that will bring significant change to our vibrant inner city suburb.

“There is an urgent need for affordable housing close to the city to ensure that individuals and families on low and moderate incomes including essential workers such as nurses, police, cleaners and retail staff can afford to live close to where they work.”

Mr Terenzini said that when works get underway, some of the ageing apartment buildings will be demolished and replaced with homes that will better suit the needs of older people, families and people seeking affordable housing close to where they work.

“Affordable Housing is housing which is subsidised to meet the needs of individuals and families on low and moderate incomes including essential workers such as nurses, police, cleaners and retail staff who work difficult hours and therefore need to live near their work.

There will be no loss in the numbers of social housing on the site but the new-build social housing will be managed by not-for-profit community housing provider Bridge Housing.

Bridge Housing Limited CEO John Nicolades, said we are delighted to be selected as the community housing provider in this positive redevelopment initiative which increases the supply of affordable housing and enables older low income households to remain in their community.

Mr Terenzini said City West Housing has been appointed as the not-for-profit developer for the project and it’s their responsibility to deliver the affordable housing component while working with Bridge Housing to deliver all of the social housing.

“City West will then continue its involvement by managing the affordable housing after the construction phase is completed.

City West Housing CEO Richard Perkins said we are very excited about being involved in the regeneration of this site to produce a high quality living environment for older people and those on lower struggling to pay rents in the private market.

Mr Terenzini said the Project has a range of funding sources, including the NSW Government through Housing NSW, $9 million from the Commonwealth Government’s Housing Affordability Fund, and contributions by City West and Bridge Housing.

“A large financial contribution to the social housing component of the project will be funded from the sale of a number of 99-year leases in Millers Point by Housing NSW.

“The timeline for the redevelopment is still being finalised, but demolition is expected to commence in 2011 and the redevelopment itself will take approximately 24 months to complete.

Mr Terenzini said that, as always, the exit strategy for tenants who’ll need to be

relocated during the construction phase, will be handled sensitively by Relocation

Coordinators who will discuss their every need and preferred alternative location.

“The Cowper Street Glebe Redevelopment Project is a great example of the State Government’s commitment to looking after those most in need in our community and delivering on our commitment to increasing the supply of affordable housing in high need areas, Mr Terenzini said.

 

Bridge Housing Limited manages 1300 dwellings assisting 2400 households on low and moderate incomes across inner metropolitan area of Sydney and operates across the following local government areas: Ashfield , Auburn , Botany Bay, Burwood, Canada Bay, Canterbury, Leichhardt, Marrickville, Randwick, Parramatta, Strathfield, Sydney City, and Waverley.

City West Housing has15 years experience in developing/constructing high quality rental housing for people on low to moderate incomes in inner Sydney.

City West currently has 548 properties with approximately 1100 tenants and operates across the City of Sydney local government area, with buildings in Ultimo/Pyrmont and the Green Square area of South Sydney.