Call for developers and investors for multi-million dollar local housing project

06 Jun 2017

Call for developers and investors for multi-million dollar local housing project

Hunter-based community housing provider Compass Housing is seeking developers, investors and builders to help deliver 600 new homes for social and affordable housing tenants across the Hunter and Central Coast over the next three years.

Compass Group Chief Corporate Services Officer, Lyndall Robertshaw, said the project will create approximately $200 million worth of construction activity and support hundreds of local jobs.

Lyndall said Compass wants to work with local businesses and investors to maximise the benefits of this exciting and highly beneficial project for the region’s business sector, economy and people. She said Compass has already had significant interest in the project.

Compass was awarded a NSW Government Social and Affordable Housing Fund (SAHF) contract earlier this year. The organisation will manage the delivery of the dwellings and provide ongoing property management and tenant support services for up to 25 years.

The majority of the homes will be one and two bedroom units with a small number of three bedroom units.

“Involvement in the project is an attractive investment because Compass will lease the properties for a period of 23 to 25 years and handle all tenancy and property management.

"Payment of rent for 52 weeks a year with no vacancies, with an annual CPI based adjustment, is guaranteed.

“Compass is a well-managed, financially strong award winning housing provider and we are keen to hear from developers, investors and builders,” Lyndall said.

SAHF is the first initiative of its kind for the social housing sector and is a key component of the “Future Directions for Social Housing in NSW” strategy to provide more social and affordable housing dwellings linked to tailored support, to help households gain independence.

She said the projects will help address shortfalls of housing for key workers and low income working families.


To register interest contact Lyndall on 02 4920 2600 or email developments@compasshousing.org