About the project
We’re building 434 new homes that are modern, well-designed and energy efficient including 228 social and 206 market rental with 1, 2 and 3 bedrooms. This is a 90% uplift in social housing at the site.
The redevelopment of the Bangs Street site also includes new picnic areas and landscaped zones. There are also new community spaces available to residents and the local community.
Delivered through a first-of-its kind Ground Lease Model, Homes Victoria is leasing the land to not-for-profit project partner Building Communities to manage and maintain for the next 40 years, enabling all land to remain in public ownership.
Projects like this are helping to tackle housing affordability by delivering more secure rental housing options in the local area.
Feedback from the Stonnington community has helped shape the design and delivery of this project, we would like to thank residents for their ongoing support.
Construction will be finished by early 2024 and we will welcome residents into their new homes soon after.
Key features
Homes: 434 new homes comprising 228 social and 206 market rental homes, including 1, 2, and 3 bedrooms.
Location: Located just 5km from Melbourne’s CBD in the City of Stonnington, the Bangs Street, Prahran housing site is ideally positioned near schools, transport, jobs, community services, shopping precincts and local destinations including Prahran Aquatic Centre and Chapel Street.
Apartment features: Modern and energy efficient, all new homes are more comfortable and less expensive to heat and cool with a 5-star Green Star energy rating, and 7-star NatHERS average rating.
Precinct features: Safe and publicly accessible open and green spaces, including an upgraded 1,500sqm park, between Bangs Street and Bendigo Street.
Accessibility: At least 5% of the new social housing will be designed to be accessible to people with a disability.
Getting around: Better pedestrian connections through the site and to the surrounding neighbourhood
Frequently Asked Questions
Under a Ground Lease Model Homes Victoria leases land to a project partner to finance, design, build, manage and maintain housing for a 40 year leasing period, enabling all land to remain in public ownership. This means there is no sale of public land. The Ground Lease Model project at Bangs Street, Prahran is one of the first of its kind in Australia. Find out more about the Ground Lease Model here.
Not-for-Profit housing organisation Community Housing Victoria Limited (CHVL) has been appointed by Building Communities to provide on-site management of the Bangs Street, Prahran site over a 40-year term. As well as managing tenancies and carrying out maintenance work, they will help activate the site with community-led initiatives and events to provide more opportunities for residents and neighbours to come together.
Previous residents of the Bangs Street housing site will have a right to return to once the redevelopment is complete. Social housing at the Bangs Street, Prahran site, is allocated through the Victorian Housing Register. Social housing is allocated through the Victorian Housing Register. Find out more about How to apply for social housing here
Market rental homes will be advertised through standard advertising channels including Realestate.com.au.
Bangs Street, Prahran was chosen for redevelopment to respond to demand for secure rental homes in the Stonnington area. The new homes at the site replace social homes that were no longer fit for purpose, with an increased supply of social and market rental homes that will meet the needs of the local community for generations to come.
We are on track to deliver two more Ground Lease Model projects. You can read more about these projects here:
Project timeline
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Early works completed
October 2021
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Construction works commenced
February 2022
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Project completed
Early 2024
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Residents move into their new homes
Early 2024
Key documents
Contact us
Email icon: Phone icon:24-hour resident hotline: (03) 9389 3619
For languages other than English, please call 131 450.