Property with a Philanthropic Purpose
14 November 2013 at 10:40 am
A new way of supporting the development of more affordable housing has been launched by the Women’s Property Initiatives (WPI) organisation.
A new foundation has been established under WPI’s Gift Fund to provide more accessible housing for low income women and their children.
“Capital accumulated in the Foundation via the general public, business and trusts and foundations will be used to build more affordable housing in a tight and costly rental market that is normally out of the reach of disadvantaged women,” the CEO of Women’s Property Initiatives, Jeanette Large said.
“The majority of these projects involve WPI selling a significant proportion (75-80 per cent) of new housing stock to promote an appropriate mix of tenants and provide the capital for more community housing.”
Large says the establishment has been made possible with an $100,000 inaugural donation from the Lions Club Melbourne Host’s President Benjamin Marchesani.
“Our group is thrilled to be able to offer a sizeable donation to WPI through its new foundation vehicle,” Benjamin said.
What sets this foundation apart, Benjamin said, was the ability to choose the development or project our funds were directed towards, in full confidence the money was in good hands.
“We are confident that low income women-headed families will benefit greatly from the stability that new, affordable rental accommodation will offer them and their children,” he said.
The Women’s Property Initiatives, formerly known as the Victorian Women’s Housing Association Ltd, is a Not for Profit community housing developer (registered housing provider) creating homes that will enable women and their children to live with dignity as contributing members of local communities. The organisation was established in 1996.
WPI says its aim is to redresses evident discrimination towards low income women and in particular low income/disadvantaged women headed households with children in relation to accessing good quality, safe and affordable housing.