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15 February 2023
The NSW Government will provide greater certainty for investors in the $87 million Community Housing Leasing Program (CHLP) by extending it from six to ten years.
Minister for Families and Communities, and Minister for Disability Services Natasha Maclaren-Jones said the move is intended to encourage more investment and reduce unpredictability in long term rental agreements.
“The CHLP already delivers leasing subsidies for almost 6,000 private market properties so they can be used as social housing,” Mrs Maclaren-Jones said.
“It is the key to unlocking longer term leases and increasing capital supply. This in turn generates significant value for Community Housing Providers which flows on to the residents who live in these properties, easing pressure for families and vulnerable people.
“Under the Guarantee, more than 60 new dwellings have been acquired and over 100 long-term leases have been negotiated, delivering greater certainty and stability to social housing tenants.
Delivered in partnership with Bridge Housing through their funding arrangement with Conscious Investment Management (CIM), the guarantee is now locked in until June 2033.
Bridge Housing CEO, Rebecca Pinkstone, said the partnership with the NSW Government and CIM will enable Bridge Housing to vastly improve the lives of people residing in social housing by providing longer term rental stability.
“Thirty years of experience in community housing tells us that secure long-term and affordable housing is critical to supporting our residents and our communities to thrive,” Mrs Pinkstone said.
CIM Chief Investment Officer, Matthew Tominc said his organisation was delighted to be part of a collaborative partnership that would increase the tenure, stability and quality of social housing across NSW.
“Building off our experience in Victorian social housing, this investment continues to demonstrate a model of how private capital can invest into social housing while earning appropriate returns.”
15 Feb 2023