Project name
Ground Lease Model 2 – South Yarra, Prahran, Hampton East and Port Melbourne
Status
Contract Let
Department and agency
Homes Victoria (Department of Families, Fairness and Housing)
Description
Homes Victoria has partnered with the community housing and private sectors to deliver 1,370 new homes at the following Homes Victoria-owned sites:
- Horace Petty Estate in South Yarra
- Essex Street in Prahran
- Bluff Road in Hampton East
- Barak Beacon Estate in Port Melbourne.
The new homes will consist of 659 social homes, 182 affordable homes, and 529 market rental homes, including 56 homes dedicated to Specialist Disability Accommodation.
The contract for the project has been awarded to the Building Even Better Communities Consortium, comprising Tetris Capital, Icon Construction, Community Housing (Vic) Limited, Women’s Property Initiative Limited and Aboriginal Community Housing (Vic) Limited.
The project will be delivered as an availability public-private partnership under a Ground Lease Model in accordance with the Partnerships Victoria framework. The consortium will finance, design, construct and manage the sites for 40 years, before handing all dwellings back to Homes Victoria. Construction for the main works across all sites is expected to be completed by the end of 2026.
This is consistent with the Public-Private Partnership model being used to build 1,110 social, affordable and market rental homes in Brighton, Prahran, and Flemington (Ground Lease Model 1).
The project is being delivered as part of Victoria’s Big Housing Build, which is the largest single investment in social and affordable housing by any government in Australia.
Homes Victoria, as the lead agency, will oversee the delivery of the project.
Contact information
Website: Homes Victoria - Ground Lease Model
Email: enquiries@homes.vic.gov.au