The Housing Trust is aiming to double the number of social and affordable housing properties it operates throughout the Illawarra within four years.
The community housing provider has invited expressions of interest from business developers to build a partnership for the management of a targeted portfolio of 24,000 properties by 2023.
They say improving access to social and affordable rental housing stock to help ease the burden experienced by people on low to moderate incomes is critical to achieving strong social outcomes throughout the region.
Housing Trust CEO Michele Adair said the importance of access to secure and affordable housing could not be underestimated. However, she said action was needed now to combat the predicted rise in housing shortfalls.
“Housing Trust is conscious that current stock is not meeting the community’s needs and to address that issue we need a strong and sustainable plan to increase our portfolio effectively,” Ms Adair said.
“The best way of delivering real outcomes on this issue is to be proactive and to lead by example, but to accommodate our tenants and the marketplace any growth must be realistic and achievable.
“We have decided to partner with a business developer to realise our growth strategy and are currently accepting expressions of interest."
Ms Adair said they saw significant opportunities for people within the Illawarra, and they will explore all avenues to deliver housing to those in need.
"This will include continuing to develop our own sites as well as working with councils and government agencies to deliver their visions for the housing sector," she said.
“Partnering with a strong business developer will enable us to be effective in bidding for opportunities like Wollongong City Council’s grants for affordable housing and the NSW Government’s Communities Plus project.
"This integrated housing development scheme is already being rolled out in Sydney suburbs such as Ivanhoe, Riverwood and Redfern.”