Up to $3M is available from Affordable and Diverse Housing Fund to promote the development of affordable and diverse housing.

 

Affordable and Diverse Housing Fund

The Affordable and Diverse Housing Fund aims to promote the development of affordable and diverse rental housing in our area by community housing providers, not-for-profit and for-profit organisations.

The fund is part of the City of Sydney Council’s commitment to overcome financial barriers to affordable and diverse housing development. It aligns with the ‘housing for a diverse population’ strategic direction in Sustainable Sydney 2030 and the City’s housing issues paper.

 

Objectives

The program aims to achieve:

  • additional development of affordable and diverse rental housing
  • greater range of affordable and diverse housing providers in the local area
  • use of private finance to increase funding of affordable rental housing
  • wider range of private financiers to fund affordable rental housing
  • increased capacity for housing providers to develop medium and high density affordable rental housing
  • increased stock of affordable and diverse housing managed by not-for-profit organisations
  • reduced housing stress among residents with low to moderate income.

Initiatives and projects can contribute to one or more of these outcomes:

  • maximising the quantum of subsidised housing within the City of Sydney local area
  • the leveraging of additional funds from sources external to the City of Sydney and its programs, including private debt finance, charitable donations and grants from state and federal government
  • encouraging a broad range of community housing providers to invest in and operate diverse housing within the City of Sydney local area
  • ensuring the continued use of funded projects as subsidised housing
  • ongoing management in accordance with the applicable regulatory requirements, such as NSW affordable housing guidelines
  • achieving timely delivery utilising appropriately experienced and capable principals and contractors.

 

Funding

Funding is available up to $3 million and can be used for:

  • acquiring land
  • design and construction
  • associated development costs.

Priority will be given to projects whose funding includes debt finance and preference will be given to applicants registered as tier 1, 2 or 3 under the national regulatory code for community housing providers.

 

Eligibility

An applicant must operate within the City of Sydney local government area or be able to demonstrate benefits for the area’s residents, businesses, workers and/or visitors.

These individuals and organisations can apply:

  • not-for-profit organisations
  • for-profit organisations
  • providers of community housing
  • organisations that are part of a consortium that includes a community housing provider.

 

Timing

Applications open on an ongoing basis.

 

More Information