Developer contributions drive more affordable housing
Lake Macquarie City Council, New South Wales, is proposing to support the development of more affordable housing across the City by introducing an 85 percent discount on development contributions.
The proposal would see a discount applied on development contributions for specific types of social and affordable rental housing, including in-fill housing, boarding houses, supportive accommodation and residential flat buildings.
Mayor, Kay Fraser has backed the proposal that will take a positive step towards providing much needed housing options for those in the community that need it most.
“Around 13 percent of households across our City need some type of social and affordable housing. Initiatives such as this can go a long way to helping our most disadvantaged residents have an affordable roof over their heads.
“We know we need more social and affordable housing across Lake Macquarie City and around NSW, and I hope that with this discount it encourages more developers to build this kind of housing.”
As part of the proposal, social and affordable rental housing developments would still be levied a 15 percent contribution, which strikes a balance between encouraging developers to build this type of housing and ensuring that local facilities, like cycleways, parks and playgrounds can still be provided.
The introduction of the development contributions discount aligns with the Lake Macquarie City Housing Strategy, which identified that some people are waiting between 5 and 10 years for affordable accommodation.
Social and affordable housing providers Amélie Housing by St Vincent de Paul welcomed the proposed discount saying it offered a valuable incentive for more affordable housing development in Lake Macquarie.
Chief Executive Officer, Brian Murnane, said, “We are passionate about providing social and affordable housing and we build, own and maintain our units and provide wrap-around support to our tenants.
“This discount is a positive move that will see a boost to the affordable housing market locally and a great incentive for developers to help fill a much needed gap in our