Major Contract

Ground Lease Model Project - Stage Two

PROJECT STATUS
Announced
Ground Lease Model Project - Stage Two

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

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.

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.
Estimated Total Cost
(2022)
Sector
Social
Procurement approach
Confirmed PPP |
Location
Victoria |
Resources