- The New South Wales government announced a new plan
- About 450 million dollars to build 400 new apartments
The New South Wales government will invest $450 million to build at least 400 new apartments in metropolitan Sydney for essential workers to rent at a subsidized rate.
Essential workers will benefit from the build-to-rent scheme, the state government said in a media release on Sunday.
The plan aims to “increase the supply of well-constructed, well-located, safe and accessible rental accommodation for essential workers who keep Sydney running but are priced out of the market”.
Nurses, paramedics, teachers, allied health workers, police officers and firefighters are among the residents who will receive the benefits.
The funding will allow Landcom, a New South Wales-owned property and land development organisation, to acquire up to four new sites to build at least 400 new apartments over the next three years.
The New South Wales government will invest $450 million to build at least 400 new apartments in metropolitan Sydney for essential workers to rent at a subsidized rate (file image)
Essential workers will benefit from the build-to-rent scheme, the government said in a press release on Sunday (file image)
“Landcom will select sites with a preference for government surplus land identified as suitable for housing, the specific locations of which are yet to be determined,” the government said.
‘The homes will be offered to essential workers at a discount to market rent, through a separate subsidy program.
“The Government will retain ownership of the home with rental income available to help fund a possible further expansion of the Government’s key worker housing programme.”
The apartments will be located in the greater Sydney area, with the aim of providing essential workers the opportunity to work and live in the communities where they work.
Subject to planning approvals, construction is expected to begin on the first site in early 2026 with essential workers expected to be able to move in from late 2027.
More details, including eligibility criteria and rental subsidy, will be available closer to completion of the first site, the government said.
NSW Premier Chris Minns said housing affordability and availability was the “single biggest pressure” on people in NSW, with mortgage or rent payments being the biggest expense for most households, especially for essential workers.
Treasurer Daniel Mookhey, who will release the state budget on Tuesday, said the policy was “essential” while “in the grip of a housing crisis” (file image)
“New South Wales would grind to a halt without nurses, paramedics, teachers, police officers and firefighters, but many cannot afford a place to live in Sydney, close to where they work,” Mr Minns said.
‘This has to change.
“We are using every lever we have to address the housing crisis and one of the best ways to make rents more affordable is to build more housing.”
Treasurer Daniel Mookhey, who will release the state budget on Tuesday, said the policy was “a must” while “in the grip of a housing crisis”.
“This investment will give hospital staff on the night shift, police on late patrol and so many other essential workers the opportunity to live close to where they work,” he said.