Overview of Affordable Housing
Affordable housing is generally considered a 'step up' from social housing. Affordable housing is designed to help those who already have a solid, but moderate, income, who may be in housing stress within the private market. These people are generally ineligible for social or community housing, but have trouble affording market rents or purchasing homes. The Gold Coast is home to a large number of working individuals and families who receive relatively low incomes and may, consequently, be experiencing housing stress. High quality affordable housing is required to respond to the needs of these workers and assist them to continue to live and work on the Gold Coast.
HHC believes that a cross sector approach is required to provide affordable housing projects that will minimise costs across the areas of land acquisition, housing construction, council charges and taxes.
As a not for profit entity, the Gold Coast Housing Company is well positioned to participate in projects that incorporate a mix of tenure and tenancy types to ensure that affordable housing projects incorporate a cross section of community members. As such, affordable developments may include a mix of:
The National Rental Affordability Scheme (NRAS) and Housing Affordability Fund (HAF) are recent developments from the Commonwealth Government, designed to provide affordable housing (either through rental or purchase). You can find out more about NRAS here.
Who will be housed?
Affordable housing is required by many working individuals and families on low incomes in the Gold Coast Community. HHC seeks to partner with a range of stakeholders including the State Government, Local Government, Private and Community Sector to develop affordable housing projects that provide a range of affordable housing options for individuals and families. For the eligibility requirements for NRAS, see here.