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01_SW CORNER VIEW OF A_GLM1, Stage 2 render.jpg

Homes Victoria Ground Lease Model 1, Stage 2

Flemington

Building Communities, a consortium of Tetris Capital, Community Housing (Victoria) Limited, Icon Kajima and the National Housing Finance and Investment Corporation (NFHIC), has been selected by the Victorian Government to undertake a second stage for the GLM1 project.

 

The consortium will finance, design, construct, manage and maintain 285 new homes - 50 brand new social housing dwellings and 220 affordable homes and 15 Specialist Disability Accommodation dwellings.

As well as being an investor, Community Housing (Victoria) Limited will be the operator and service provider. NHFIC has provided debt finance. Icon Kajima will build the new housing with completion scheduled for 2024.

Leading and sponsoring the second stage, Tetris Capital acted as the financial advisor on the project and will continue as an equity holder and as the long-term asset manager for the duration of the ground lease.

At the end of the 40-year lease, the land and all the 285 dwellings will come under the management of Homes Victoria.

 

LOCATION

Flemington, Victoria

CLIENT

Homes Victoria, Department of Families, Fairness and Housing

TOTAL VALUE 

Confidential

OUR ROLE

Financial Advisor

Bid Lead
SPV / Asset Manager             

Investor

BUILDER

Icon Kajima

ARCHITECTS

Six Degrees Architects

SERVICES CONTRACTOR

Community Housing Limited

FINANCIAL CLOSE

2023

COMPLETION DATE

2026

CONTRACT TYPE

Design, build, finance, operate and maintain

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