Social Housing Growth Fund




PROJECT
PIPELINE
STATUS

Prospective pipeline

Credibly proposed

Announced

Under procurement

Preferred bidder announced

Recently closed
Social Housing Growth Fund
STATUS

Prospective pipeline

Greenfield (construction) or brownfield (government asset divestment) projects needed or likely to occur within the next five years, but is not formally proposed by a state, territory or major local government.

Credibly proposed

The project or divestment is supported by a state, territory or major local government, is subject to studies or other processes (such as pre-feasibility or scoping studies or business case development), and is likely to proceed to formal announcement.   

Announced

The project has a firm commitment and timeline from a state, territory or major local government, but has not yet entered the market.

Under procurement

The project or transaction is under procurement (such as a call for Expressions of Interest, requests for tender, or another offer to the market).

Preferred bidder announced

A preferred bidder has been selected and is in exclusive negotiations.

Recently closed

Projects that have progressed to contractual close remain on ANZIP for 12 months.

ANZIP is focused only on major infrastructure activity, above the following thresholds:

Australia

Construction projects: > AUD$300m

Investable greenfield & brownfield: > AUD$100m

New Zealand

All greenfield and brownfield projects and divestments: > NZD $100 million


STATUS: Under procurement
VALUE: $1bn AUD
SECTOR: Social infrastructure
JURISDICTION: VIC
PROCUREMENT APPROACH: Confirmed PPP
TYPE: Greenfield

The Victorian Government has established a $1 billion Social Housing Growth Fund, drawing on the NSW Government's successful Social and Affordable Housing Fund pilot, to initially fund 2,200 additional social housing dwellings over the next five years.

The initial $1 billion capital, to be provided by the Government, will be invested with the returns used to fund the service payment stream for the dwellings over a long-term concession. The fund will support two separate programs:

- the Build and Operate Program, which will consist of construction of new social and affordable housing on non-Victorian Government land. This will be undertaken by non-government sector, such as community housing providers, but also in partnership with consortia, which could include private sector developers and financiers. The Government is non-prescriptive on the types of developments that should be proposed; and

- the New Rental Development Program, which will subsidise rent for households that need assistance but do not require long-term housing. This will be achieved through rental of existing dwellings from the private market.

The Fund will be set-up using seed capital provided progressively by the Victorian Government over a period of five years, reaching $1 billion in the 2019-20 financial year.

The Victorian Social Housing Growth Fund is an important trial of alternative delivery models for social housing in Victoria. In establishing the fund, the Government aims to demonstrate its financial commitment to a long-term pipeline for social and affordable housing for the non-Government sector.

In August, the first round of procurement was initiated, with the Government accepting submissions from prospective partners under both programs.



Last reviewed: 10/08/2018

Presented by

Government sponsors

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Supporting agencies

 
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