A Liberal National Government apartment development has been named Australia's best affordable housing development at this year's National Property Council of Australia Innovation and Excellence Awards.
Housing Minister Colin Holt said the award recognised the $73 million One on Aberdeen development in Northbridge as a great demonstration of how government could work with the private sector to achieve outstanding affordability outcomes.
"The Housing Authority worked with developer Diploma Properties to deliver a high quality, 13-storey development with 161 residential and seven commercial units on what was previously idle Government land," Mr Holt said.
"The project has delivered high levels of affordability through innovative design and a diversity of apartment types, including initiatives to target low and moderate income renters and purchasers."
The One on Aberdeen project arose out of the State Government's Affordable Housing Strategy which challenged the Housing Authority to efficiently optimise Government assets to support private sector investment, housing supply and social policy outcomes.
Forty per cent of the apartments were specifically made available to people on low-to-moderate incomes who would otherwise face barriers to owning or renting their own home. This included purchasers through Keystart home loans and shared equity home ownership with the Housing Authority, along with affordable and social rentals for people on low incomes.
"Careful consideration in the planning and delivery stages ensured that while affordability was maintained, there was no compromise on quality in construction and finishes," the Minister said.
One on Aberdeen is located on a site with close proximity to the Perth CBD and public transport.
"The development reinvigorated a tired precinct in the Perth CBD, bringing economic activity and a ripple effect on surrounding land values," Mr Holt said.
"Rather than being a passive seller of the land, the Government in this instance chose to be an active equity partner and to reinvest its return in retained units, which was a significant shift in the way Government partners with the private sector."
Minister's office - 6552 6100