Western Australia Minister for Housing and Works Troy Buswell
Innovative Complex Planned For Pier Street Block
Victor P Taffa
Western Australia Minister for Housing and Works Troy Buswell today named Diploma Properties as the preferred proponent for an innovative affordable city housing project, which harnessed private sector investment and mixed residential and commercial use in a single complex.
Under its proposal to develop the Department of Housing-owned block, Diploma Properties would spend $50 Million at 51 Pier Street, building 130 to 140 residential units across 10 floors, with commercial space on the ground floor.
“This is another example of the innovative approaches we are taking to reach our goal of providing 20,000 additional affordable housing dwellings by 2020.” Mr. Buswell said.
“Our campaign to meet this target also includes our partnerships with the Commonwealth to boost social housing stock, our review of eligibility, our crackdown on anti-social behaviour and our shared equity loan schemes.”
International research, including data from the Australian Housing and Urban Research Institute (AHURI), had shown combining tenure, use and dwelling arrangements promoted social mix, addressed disadvantage and lowered management costs.
“Increasing the numbers of residents in the inner city makes the area more vibrant and revenue generated by the development can be used by the department to fund social housing projects and other initiatives.” the Minister said.
“Private sector involvement means the State Government can deliver a project without any impact on our capital expenditure program.”
Today’s announcement follows the Social Housing Taskforce’s recommendations that Government co-operate more closely with the private sector to create innovative models for social housing.
The focus in the West is all positive as people respond to new opportunities.