In a first of its kind for Victoria, Homes Victoria will deliver housing through a Ground Lease Model.
Through a partnerships approach, public land will be leased from Homes Victoria to a project group who will finance, design and construct new housing. The community housing provider will manage and maintain the sites for 40 years, before handing the land, and all dwellings, back to Homes Victoria.
The sites will deliver social, affordable, specialist disability* and market rental homes that are welcoming and secure and which meet modern design and accessibility standards.
*Specialist disability accommodation is a type of affordable/market rental housing.
Frequently asked questions
This Ground Lease Model aims to grow social housing, tackle the growing problem of housing affordability and address the lack of secure, longer-term rentals in well-located areas. By partnering with a consortium, Homes Victoria can access State and Federal funding options not accessible via other housing delivery approaches. Without this approach these types of developments would not be possible at this scale.
The sites will deliver social, affordable, specialist disability and private rental homes that are welcoming and secure, and which meet modern design and accessibility standards. The sites will also deliver spaces to support diverse and inclusive communities. This includes community rooms, artists’ studios, social enterprise tenancies, active open spaces, community gardens and pocket parks.
Tenants previously relocated will be given the option to return once the development is complete. Many have been in alternative accommodation since site preparation works started. Homes Victoria will work each tenant to understand their individual circumstances and requirements and ensure an outcome that best suits their needs.
No, Homes Victoria will be able to renew and grow housing stock as the land and assets revert to public ownership and the end of the 40 years. There will be some private rental homes on the sites, but these will be managed by the consortium. Rental income from these properties will offset the cost of building social housing.