Tetris Capital’s Building Communities consortium to deliver hundreds of new homes
Premier Daniel Andrews and Minister for Housing Colin Brooks today announced the second stage of the redevelopment at the Flemington precinct, which is being delivered in partnership between Homes Victoria and not-for-profit project group Building Communities.
This stage will result in 285 new social and affordable homes being built at Holland Court – as well as a new café and communal spaces, including a new 5,000-square metre landscaped community park at the heart of the site for sports, activities and social gatherings.
The first stage of the redevelopment on nearby Victoria Street is almost complete, featuring 359 new homes – 240 social homes and 119 affordable homes – as well as more community and open spaces, ready to welcome renters from early next year.
The new one, two and three-bedroom homes are modern and energy efficient, meaning renters will be warm in winter and cool in summer, while saving on their power bills.
The new housing will be delivered under an innovative ground lease model where Homes Victoria will lease the land to the consortium to build, operate and maintain housing on the site for 40 years before returning the land, and all homes, to public ownership.
Read full media release Quotes attributable to Ryan Slocombe, Principal, Tetris Capital
“With the first stage of construction nearing completion, we are ready to deliver hundreds more new homes in Flemington, working really closely with our partner Homes Victoria."
“Our construction partner, Icon, is doing a great job, and our community housing partner, Community Housing Limited, is well prepared for the arrival of residents."
“We’re excited to be delivering more local jobs, supporting social enterprises and continuing strong relationships with our community partners and neighbours.”