Expressions of Interest are now open for Australia's first integrated Build-to-Rent development on Elizabeth Street in Redfern - right in the heart of Sydney.
Under the NSW Government’s Communities Plus model, proponents will fund, construct and provide tenancy management in exchange for revenue from rental income over 40 years, after which time the land and buildings are returned to Government.
Minister for Social Housing Pru Goward said the Government is expecting strong interest from the private and not-for-profit sectors.
“We are now looking for an innovative partnership to transform the Redfern site into a dynamic, mixed community of social, affordable and private rental apartments,” Ms Goward said.
“The Redfern site is the first Government project to use the pioneering Build-to-Rent model and we are expecting a lot of interest from private financiers, super funds and community housing providers to partner and deliver the project."
“The revitalisation of the site will mean more rental homes in Sydney close to the city, more affordable homes and more social housing.”
Applicants are required to demonstrate their financial capacity and strategy, and experience and capability to deliver the project within the build-to-rent model.
Shortlisted respondents will be invited to participate in the Request for Proposal in 2019. The Redfern Build-to-Rent EOI closes on 25 September 2018.
To express interest, visit: https://www.communitiesplus.com.au/major-sites/redfern