The Building Communities consortium was delighted to be selected to deliver the Victorian Government’s second Ground Lease Model Project to redevelop social housing in Hampton East, Prahran, South Yarra and Port Melbourne.
The project will help tackle the growing problem of housing affordability by delivering 1370 social, affordable, market and specialist disability homes, replacing outdated homes with modern, environmentally sustainable homes.
Building Communities retains the experienced team delivering the $500 million Ground Lease Model 1, with Community Housing Victoria Limited (CHVL) as an operator, service provider and owner, Icon as the builder and Tetris Capital as bid lead, financial advisor and asset manager. The consortium is now further strengthened with the specialist skills and deep understanding of social housing renter needs, with new partners Women’s Property Initiatives (WPI) and Aboriginal Community Housing Limited (ACHL).
Housing Australia continues to be an important partner providing significant public funding to support the project, alongside ANZ and SMBC. Global infrastructure investors, abrdn and Invesis, have joined the team to co-invest in an integrated partnership with local social infrastructure developer Tetris. Importantly, community housing providers, CHVL, WPI and ACHVL are also investors, positioning them strongly for reinvestment and growth in their social outcomes.
Market leading architects with housing expertise, including 6 Degrees, Hayball, Studio Bright and Glas Uban landscape design are joined by female-led firm KTA.
Comments attributable to Ryan Slocombe, Principal, Tetris:
“We have gained invaluable experience delivering GLM1 and the additional specialists we’ve brought into the team have added significant value to all aspects of our proposal - including insights into renters’ perspectives and experiences that have enhanced our design.
“A key feature of our proposal has been increasing the emphasis on social procurement, increasing the participation and influence of women and really bringing to life what we have learned alongside our partners, Homes Victoria."
Members of the Building Communities team joined our Homes Victoria partners, Federal and State Housing Ministers and the Victorian Premier at the announcement of the Ground Lease Model 2 housing project.
Read the Premier’s media release here