Comments are now open on a new proposal to extend City of Sydney’s affordable housing levy across the entire local government area.
The City’s current affordable housing levy only applies to new developments in Green Square, Pyrmont and the southern employment lands.
Since the original scheme was introduced, the levy has enabled 835 affordable homes to be built with another 586 approved for construction.
The proposal will open up opportunities for up to 3,600 affordable homes by 2030 across the city, enabling key workers such as teachers and nurses to live near their place of work and benefit from city services.
Under the extension proposal, all new major developments in the City of Sydney area would have to pay a levy of 1 percent to 3 percent depending on development type, with the funds going towards the delivery of affordable housing.
“Housing affordability is at a crisis point in inner Sydney – so this is a great win for low and middle income earners,” says Lord Mayor Clover Moore.
“We’ve been lobbying the state government for years to allow us to extend this levy across our city, because it is proven to create more affordable housing in our city.
“Extending the levy to all new developments in our area is an important step toward achieving targets of 7.5 percent social housing and 7.5 percent affordable housing, but we need further action from all levels of government if we are to provide affordable housing to everyone who needs it.”