- $17 million Cook Government investment unlocks almost 1,700
new apartments
- Additional builds to deliver major boost to WA's
long-term housing supply
- Industry invited to submit new development proposals for
lazy Government land
- New rapid Housing Diversity Pipeline Expression of Interest
(EOI) open, with developers required to complete projects within agreed time
As part of the Cook Labor Government's ongoing reforms to increase
housing supply in Western Australia, construction of a further 1,700 new
apartments will be supported through the $80 million Infrastructure Development
Fund.
A new rapid EOI is also opening today, offering industry opportunities
to propose residential developments on any underutilised Government-owned land
that is not already reserved for future hospitals, schools, roads, utilities or
other essential civic infrastructure.
Twenty-two
new projects will share in up to $16.91 million from the $80 million
Infrastructure Development Fund's Targeted Apartment Rebate stream to support the
delivery of up to 1,691 apartments across Perth including in White Gum Valley,
Gosnells, Maddington, Subiaco and Woodbridge.
Eleven of
these projects will include social housing options as well as specialist
disability accommodation.
In response
to key stakeholder feedback, the Cook Government has extended eligibility in
the Targeted Apartment Rebate to include NDIS-registered purpose-built
specialist disability accommodation.
The $80
million Infrastructure Development Fund continues to provide funding assistance
to address up-front costs associated with connecting water, electricity and
sewerage infrastructure, which have otherwise constrained development and
impacted the viability of infill housing projects.
Since the Fund was launched, 16 supported
projects have already commenced construction on 1,321 apartments. A further 63
apartment developments are also in the pipeline to receive funds to help industry
deliver more than 4,000 additional apartments.
Applications
for the Targeted Apartment Rebate, as well as the Unlocking Infill Precincts
funding stream, have been extended until 6 January 2025, or until funds are
exhausted: wa.gov.au/Infrastructure-Development-Fund.
A new rapid EOI has also been launched today, enabling developers to
identify and potentially purchase underutilised State Government-owned land to
deliver more housing and land supply sooner.
The EOI will be open for eight weeks, and will include a fast-fail
approach to determine whether the land is required for future Government use. A
further assessment will then determine if the land can be developed rapidly for
residential purposes, the scope of the proposed development and the capacity of
the proponent to deliver.
Valuations of the land will be undertaken by a panel of independent
market valuers to ensure a reasonable price is received by the State. These
funds will be reinvested into further housing initiatives.
Land developers will be required to achieve specified delivery
milestones to complete the project within an agreed timeframe.
The rapid EOI is the next key stage of the Cook Government's pilot Housing
Diversity Pipeline program to
create a pipeline of housing developments, including the provision of more
social and affordable housing options.
The first stage of the
program received a strong response from industry, with a number of
Government-owned metropolitan sites now in the advanced stages of securing
development partnerships to deliver new mixed-use and social housing.
More information on the
EOI is available at: www.haveyoursay.dplh.wa.gov.au/hdp.
Comments attributed to
Premier Roger Cook:
"Getting more Western
Australians into homes quickly is a top priority for my Government, and we are
looking at every opportunity to increase supply.
"Our $80 million
Infrastructure Development Fund is already supporting construction of more than
1,300 new apartments - unlocking additional homes while creating housing
diversity and choice.
"We are also harnessing the expertise of industry, encouraging the
sector to identify underutilised State Government-owned land that could be
developed for housing and submit proposals for assessment.
"Both of these initiatives are aimed at bringing more housing onto the
market, sooner and smarter - supporting jobs and doing what's right for WA."
Comments attributed to
Treasurer Rita Saffioti:
"Our Government continues
to invest in innovative solutions to address the demand for new housing.
"Programs like the $80
million Infrastructure Development Fund are delivering positive outcomes by
helping to get multi-residential developments off the ground sooner.
"Since the establishment
of the Infrastructure Development Fund, 79 apartment projects have been
supported by our Government, helping industry to deliver more than 5,400 new
apartments.
"We're continuing to
drive new initiatives with the release of a rapid Expression of Interest
process, whereby developers can identify suitable land and submit project
proposals for the rapid delivery of new residential land and housing.
"This is a fantastic
opportunity for industry to be part of the drive to deliver more housing
diversity and create new jobs."
Comments attributed to
Planning and Housing Minister John Carey:
"The Cook Government continues its commitment to
unlock a pipeline of new apartment developments in key urban Perth metropolitan
precincts through our $80 million Infrastructure Development Fund.
"With construction already
underway on more 1,300 new apartments, this latest $17 million will support
another 22 projects delivering nearly 1700 additional apartments and boosting
long-term housing supply by assisting industry with the up-front costs of
establishing infrastructure for essential services.
"The effects of the COVID-19 pandemic have deeply
impacted the viability and delivery of high-density developments - including
supply chain challenges, skilled labour and cost escalations.
"This is why our Government continues to invest in
a range of reforms to stimulate and support this important part of the housing
sector, through our $80 million Infrastructure Development Fund, the pilot
Housing Diversity Pipeline and new Keystart loan products.
"Our Government is unlocking lazy Government land through
the pilot Housing Diversity Pipeline to maximise the potential of the land for
social and affordable housing - including developments in Pier Street and Smith
Street.
"We're now providing a further opportunity for industry to deliver more
housing diversity through lazy Government land through a rapid Expression of
Interest process for industry to identify any underutilised Government land to
bolster housing supply.
"I encourage housing developers to view the online EOI information and
submit a proposal."
Comments attributed to
Urban Development Institute of Australia WA CEO Tanya Steinbeck:
"This latest Expression of Interest phase is a
critical step in further addressing the State's housing supply needs.
"On behalf of
industry, UDIA WA recommended that providing the opportunity for private
developers to identify appropriate Government land for residential development
would help facilitate more housing on the ground, faster.
"We are pleased that the State Government has listened to our advice, given that
we believe the private sector is best placed to deliver the housing supply we
need quickly and efficiently."
