The Pier Street development will deliver more than 200 new homes in Perth, giving key workers and Western Australians in need, including older women at risk of homelessness, a safe and affordable place to call home.
A new apartment building, to be constructed on Pier Street, Perth, will provide 219 new apartments, of which 30 per cent will be new social rental homes (66 apartments) and 20 per cent will be affordable rental homes (44 apartments).
The Federal Government's Housing Australia will contribute funding of $88.6 million from the National Housing Infrastructure Facility (NHIF) to help build these new homes for Western Australians, while the State Government will contribute up to $40.6 million.
The Federal Government unlocked up to $575 million in the NHIF for social and affordable housing in 2022, making this funding possible.
The Commonwealth funding represents the largest contribution to date from Housing Australia in Western Australia.
Last month, Housing Australia opened applications for the first round of funding for social and affordable homes under the $10 billion Housing Australia Future Fund and the National Housing Accord.
In January, as part of the State Government's Housing Diversity Pipeline, lodgement of a development application was announced for the Pier Street project - the State's second social and affordable Build-to-Rent project. This followed the identification of a site on Smith Street in Highgate in December.
The Pier Street development is part of the State Government's $2.6 billion investment in housing and homelessness measures, which includes delivery of around 4,000 new social homes, maintenance and refurbishments to many thousands more.
Project design is being led by international design company Hassell and development approval is anticipated in late March 2024, with construction set to commence by mid-2024.
It is expected the project will create a sustainable and replicable model for future social and affordable housing, support around 200 jobs during construction, and deliver significant financial stimulus to the State economy through its flow-on effects to other industries.
For further information visit: developmentwa.com.au/projects/residential/pier-st/overview
