Ground Lease Model project (Public Housing Renewal Program - Package 1)
Department and agency
Director of Housing (Homes Victoria)
In a first-of-its-kind for social housing in Australia, Homes Victoria has partnered with the community housing and private sectors to deliver 1,110 new homes in Flemington, Brighton and Prahran.
The Ground Lease Model Project will build brand new social housing dwellings, affordable homes and market rental homes, including Specialist Disability Accommodation dwellings.
Public land will be leased to the not-for-profit project company (Project Co) who will finance, design, construct and manage the sites for 40 years, before handing all dwellings back to Homes Victoria. At the end of the lease, the land and all 1,110 dwellings will come under the management of Homes Victoria.
The project will be delivered as a Public Private Partnership in accordance with the Partnership Victoria Requirements.
The contract for the project has been awarded to the Building Communities Consortium. The lead parties within the consortium include Tetris Capital, Icon Kajima and Community Housing (Vic) Limited.