Through a partnerships approach, public land will be leased from Homes Victoria to a not for profit project group who will finance, design and construct new housing. The community housing provider manages and maintains the sites for 40 years, before handing the land, and all dwellings, back to Homes Victoria.
The sites will deliver social, affordable, specialist disability* and market rental homes that are welcoming and secure and which meet modern design and accessibility standards.
*Specialist disability accommodation is a type of affordable/market rental housing.
How does the Ground Lease Model work?
Who will be financing, designing, constructing and managing the new housing?
A not for profit project group overseen by Homes Victoria will design, construct, finance, maintain and manage all new housing at each site in agreement with Homes Victoria’s project requirements and specifications.
The project group is made up of:
- (a Registered Housing Agency) as the equity provider and operator
- (National Housing Finance and Investment Corporation) as the debt provider
- as bid lead and financial advisor
- as the builder
- as development and property advisor
Reviewed 12 July 2021