The Ground Lease Model Project - Stage Two is the second package of the Victorian Public Housing Renewal Program, and will deliver 1,400 new social, affordable and market rental homes. The Victorian Government is using a ground lease model, following the successful procurement of Stage One.
Stage Two housing redevelopments will occur on Homes Victoria owned sites, including:
Horace Petty, South Yarra
Essex St, Prahran
Barak/Beacon Roads, Port Melbourne, and
Bluff Road, Hampton East.
The project comprises replacing 502 aging existing public housing dwellings with up to 1,400 new social, affordable and market rental dwellings, including specialist disability accommodation. At the end of a 40-year ground lease, the land and all homes will revert to Homes Victoria.
Key Dates
| May 2022 | Project Announcement |
Funding contributions
| Victorian Government | |
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Th project will be delivered using a Ground-lease model. It is expected that the successful consortium will make a capital contribution similar to the Victorian Government's. |
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Procurement
| Procuring Agency: | Homes Victoria |
PROJECT HISTORY
| May 2022 | The 2022-23 Victorian Budget allocated $260 million to the Ground Lease Model Project - Stage Two, as part of the Big Housing Build. |
