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 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 |
| Jun 2022 | EOIs Open |
| Jun 2022 | EOIs Close |
Funding contributions
| Victorian Government | |
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The 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. |
| Jun 2022 | The Victorian Government issued Expressions of Interest (EOI) for the project's delivery. EOIs closed on 30 June 2022. |
