Good 360
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Communities

Funding Boost for ‘Homes for Homes’ Initiative


Wednesday, 28th June 2017 at 5:20 pm
Lina Caneva, Editor
The federal government has delivered a boost to the supply of social and affordable housing with a $6 million investment in The Big Issues’ Homes for Homes initiative.


Wednesday, 28th June 2017
at 5:20 pm
Lina Caneva, Editor


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Funding Boost for ‘Homes for Homes’ Initiative
Wednesday, 28th June 2017 at 5:20 pm

The federal government has delivered a boost to the supply of social and affordable housing with a $6 million investment in The Big Issues’ Homes for Homes initiative.

Construction company Grocon is partnering with the social enterprise through a 75-apartment complex development in Melbourne’s north-east.

The Big Issue’s Homes for Homes initiative emerged in the ACT in August 2016.

Homes for Homes is based on a US model developed by one of America’s leading homebuilders, Lennar Corporation, which the organisation tailored to the Australian market.

Minister Porter said the partnership was a great example of the Homes for Homes initiative, which aimed to raise $2.4 billion to increase the supply of affordable housing.

“Under the voluntary scheme, homeowners and organisations involved in property transactions donate 0.1 per cent of each sale to Homes for Homes when a property is sold,” Porter said.

“Under this initiative, individual homeowners or national property developers are helping those who don’t have a roof over their head.

“Over the long term these donations, which is just $500 on a $500,000 property, will generate a significant pool of funding to be provided through Homes for Homes to community housing providers to build more social and affordable houses.

Porter said the government’s $6 million funding for Homes for Homes was intended to give the organisation the capacity to build on its early successes by developing its organisational capabilities and helping it achieve its aims.

“This is the government, the community sector and businesses working together to help ease the shortage of affordable and social housing,” Porter said.

Homes for Homes chair Sonya Clancy said participating property developers had a pipeline of more than 10,000 properties already committed to the scheme.

“We expect to raise $2.4 billion for Homes for Homes over 30 years,” she said.

Porter said developing alternative sources of capital for social and affordable housing was critical to helping Australians who are homeless or who are unable to access safe and secure housing.

“Homes for Homes is doing this by tapping into private sector capital to generate funding for new affordable and social housing and should be congratulated for its innovative approach to help address this important social issue,” he said.


Lina Caneva  |  Editor |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years, and Editor of Pro Bono Australia News since it was founded in 2000.

FEATURED SUPPLIERS


Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

Yes we’re lawyers, but we do a lot more....

Moores

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Government Pushes Welfare Reform Success Amid More Robo-Debt Controversy

Lina Caneva

Wednesday, 22nd November 2017 at 4:51 pm

States Urged to Support Child Sexual Abuse Redress Scheme

Luke Michael

Monday, 30th October 2017 at 4:30 pm

More Australians Are Giving Time Not Money

Wendy Williams

Monday, 11th September 2017 at 5:07 pm

NDIS Brings 150 Jobs to Western Sydney

Lina Caneva

Friday, 1st September 2017 at 5:20 pm

POPULAR

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

Concerns Raised Over New ACNC Board Appointments

Luke Michael

Monday, 20th November 2017 at 2:28 pm

Disability Advocacy Group Fights to Restore State Funding

Luke Michael

Thursday, 9th November 2017 at 8:37 am

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


Good 360
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!