Domain

July 7, 2020

The policy required 4 per cent of select new developments to be contributed to council for affordable housing, said mayor Gail Giles-Gidney, which resulted in 34 affordable housing units and a $12 million housing fund from developer contributions. This zoning will increase to 7 per cent by 2023 under the council’s housing strategy and 10 per cent by 2026.

“We’re hoping to have 70 properties by 2036,” Cr Giles-Gidney said.

 

“We know that there is the demand,  we know it’s very important to provide residential accommodation for key workers [and] we’re also providing apartments for people who are escaping domestic violence.”

While Sydney’s affluent lower north shore may not be what comes to mind when people think of housing support, Cr Giles-Gidney noted there were pockets of high rental stress – such as Chatswood, where more than 18 per cent of renters were spending at least a third of their income on rent. 

She added diversity of housing provided benefits for everyone and was vital to keeping key workers in the area.

https://www.domain.com.au/news/explainer-what-is-an-affordable-housing-rental-property-and-why-are-experts-calling-for-more-967306/

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