Centacare Evolve Housing (CEH) will deliver 150 new or refurbished social housing dwellings in Tasmania via a new program announced in March.
CEH Executive Director Tim Gourlay met with the Premier, Will Hodgman, and the Minister for Human Services, Jacquie Petrusma, to launch the innovative Community Housing Stock Leverage Program.
The Stock Leverage Program encourages Community Housing Providers (CHP) such as CEH to construct and/or refurbish dwellings by leveraging security provided by existing social housing stock.
By transferring the titles of some existing dwellings to the CHPs, this enables them to borrow against the equity in the assets in order to fund new builds.
“Tasmania is leading the way again in this exciting and innovative program of stock leverage,” said Mr Gourlay.
The result of the title transfer will be 150 new and refurbished dwellings.
“The first agreement with Centacare Evolve Housing will result in the construction of 119 new homes and the refurbishment of 31 homes. Wilson Homes will construct the first homes this financial year, with all these homes to be delivered by mid- 2019,” said Ms Petrusma.
The titles being transferred to CEH will be distributed across Bridgewater, Gagebrook and Herdsmans Cove.
Mr Gourlay explained that the need for this additional social housing is critical.
“The waiting list for public housing stands at approximately 3800. This figure represents a real increase in the number of people seeking access to social housing.”
Developing brand new dwellings has created additional construction jobs over an extended build program period of 10 years and creates further jobs refurbishing existing dwellings for the new tenants and owners. Additional houses generate additional maintenance jobs and new residents will spend in the local area.