The Racecourse Road, Flemington redevelopment is adjacent to the Ground Lease Model – Stage One contract in Flemington.
The scope of works for the Racecourse Road site in Flemington includes delivery of 700 new dwellings, including 400 social housing dwellings and 300 affordable housing dwellings.
The Victorian Government is using a ground lease model to deliver the new dwellings, which will see the Victorian Government lease the land to the successful proponent. The Proponent will design, construct, finance, operate and maintain the dwellings over a 40-year concession term, after which the land and homes will revert to Homes Victoria.
Key Dates
| Mar 2025 | Contract Award |
Procurement
| Procuring Agency: | Homes Victoria |
| Successful Tenderer: | Building Communities consortium, comprising Tetris Capital, Community Housing Limited, the Federal Government’s National Housing Finance and Investment Corporation (now known as Housing Australia), Icon Kajima and Citta Property Group. |
PROJECT HISTORY
| Mar 2025 | The Victorian Government announced the project on Racecourse Road in Flemington was awarded to the Building Communities Consortium, with the new project site adjacent to the existing Ground Lease Model - Stage One contract. |
Estimated Total Cost
(2025)
Sector
Social
Procurement approach
Confirmed PPP |
Location
Victoria |
Resources
