Minister for Family and Community Services Pru Goward was in Fairview Road, Canley Vale yesterday to officially open a new co-operative housing 17 unit development and meet its new tenants, all of whom are seniors in the Vietnamese community.
The project was funded by an upfront grant from the NSW Government of $1.3 million, and approximately $1.3 million over ten years from the Australian Government under the National Rental Affordability Scheme (NRAS).
Common Equity NSW and Van Lang have also contributed nearly $2 million in equity and borrowings.
Minister Goward said the dwellings built under the Scheme are rented to eligible households with very low to moderate income at a rate that is at least 20 per cent below market rents.
"In the latest funding round of the Scheme (Round 4), the NSW Government has exceeded the former Government’s commitment by providing an additional $100 million to increase the supply of affordable housing in NSW," Ms Goward said.
"The NSW Government’s additional $100 million has more than doubled the number of affordable rental homes to be delivered in NSW, delivering an additional 2,600 units to assist families in housing stress.
"In total, the Government is contributing over $180 million over 15 years towards the development and funding of 4,800 affordable rental dwellings under Round 4 of the Scheme.
"We are committed to improving housing affordability in Western Sydney and more broadly across NSW," Ms Goward said.
The purpose built property officially opened by Minister Goward was constructed for the Van Lang Co-operative in a partnership with co-operative housing body Common Equity NSW and Housing NSW.
The $3.3 million residential project is the first major construction project in the State to be undertaken by the co-operative housing sector.
Minister Goward said it is always exciting to visit new housing projects, but this project in particular has shown what can be done when the community works together.
"It is the first example in Australia of an independent, tenant managed and sustainable community for elderly Vietnamese people.
"The Fairview Road development was designed in consultation with the Vietnamese community specifically to meet the needs of its elderly people, and features include a new community room which will be a great place for residents to share meals and socialise.
"To date, 1,040 dwellings have been completed in NSW, and a further 6,048 will be delivered in the next five years using the NRAS incentive scheme," Ms Goward said.
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