At-risk and vulnerable women in Canberra may be receiving a well-deserved and necessary leg-up in the coming months, thanks to an innovative housing initiative being explored at Ginninderry.
The National Housing Finance and Investment Corporation (NHFIC) has signed a Memorandum of Understanding (MOU) with the Ginninderry Joint Venture Project and Community Housing Canberra (CHC) where they’ll be reviewing and identifying potential sites for construction.
The development will be structured as a Build-to-Rent-to-Buy model, and a concept is being drafted within the next six months.
Appropriate funding to support the initiative is being investigated, and should the pilot proceed, construction would be anticipated to begin later this year.
ACT Minister for Housing and Suburban Development Yvette Berry said the initative is a “fantastic opportunity” and contributes to the ACT Government’s commitment to put housing first for the vulnerable members of our community.
“Our government has a long-held commitment to intervening where the housing market fails to provide for people in our community and this MOU directly illustrates that,” Ms Berry said.
“I am excited to see the new opportunities that this collaboration will bring for this part of the community housing sector.”
NHFIC CEO, Nathan Dal Bon, said this project provides a “great opportunity” to explore pathways to affordable home ownership for vulnerable women.
“As part of this initative, we are exploring a Build-to-Rent-to-Buy and shared equity project, and we’re thrilled to work with CHC and private sector partners through the Ginninderry Joint Venture,” he said.
“We’re particularly excited that this bold initiative puts NHFIC at the forefront of housing finance innovation and could be leveraged more broadly to support vulnerable and at-risk women across Australia.”
CHC CEO, Andrew Hannan, said his organisation is looking forward to being involved with the project and it complements their already existing rental and home ownership programs.
“Through this housing initative, we aim to provide women with low-but-secure employment incomes, often with little or no deposit, with access to a safe, secure and affordable home with a built-in pathway to home ownership,” Mr Hannan said.
“The bundling is the key difference, and we believe we can deliver a greater and potentially generational impact for these women and their families. We see new enquiries every day from women of all ages, and it’s fantastic to think that we can better address this massive unmet demand.”
According to Ginninderry Joint Venture Project Director, Stephen Harding, Ginninderry has committed to creating environmental, economic and social benefits for the community from the start, and this partnership is a great way to continue this commitment.
“More importantly, we are pleased to partner with NHFIC and CHC to investigate how Ginninderry can assist in providing housing security for at-risk women,” he said.
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