Icon Kajima is part of a consortium that will partner with Homes Victoria on a major project to redevelop three public housing precincts in metropolitan Melbourne.
Homes Victoria has nominated the Building Communities consortium as the preferred proponent for the affordable housing project, which will deliver much-needed new homes while providing immediate stimulus and job opportunities to Victorians.
The Building Communities consortium includes Icon Kajima as the builder, infrastructure finance specialists Tetris Capital, developer Citta Property Group and registered housing agency Community Housing (Victoria) Ltd.
Housing sites in Brighton, Flemington and Prahran will be redeveloped to make available more than 1100 new homes in metropolitan Melbourne. Homes Victoria’s development program aims to significantly expand the availability of well-designed, affordable, efficient and integrated social, market rental and specialist disability accommodation dwellings that are tailored to tenants' needs and built to high environmental and accessibility standards.
According to the ground lease model partnership with Homes Victoria, Building Communities will be responsible for the financing, design, construction and operation of the precincts, including tenant and asset management. The consortium will deliver new social, affordable, Specialist Disability Accommodation and private homes at each site with Homes Victoria retaining the freehold title. The ownership, therefore, remains with Homes Victoria, benefiting the people of Victoria well into the future.
Commenting on partnering with Homes Victoria on the important social housing project, Icon chief executive officer Evan Byrne said, “We recognise modern and sustainable social housing is a priority for Homes Victoria and the people of Victoria, and we are excited about transforming some of Melbourne's oldest public housing precincts into high-quality, sustainable communities with modern and energy efficient homes.”
"The Building Communities consortium brings together a perfect blend of expertise, experience and capability to produce world-class social housing. Our consortium put a lot of thought into our proposal to ensure we are creating vibrant, integrated communities that retain the natural aspects of the sites where possible. I am confident that Icon's innovative approach and experience in delivering complex social infrastructure projects will deliver homes and neighbourhoods greatly appreciated by the tenants and the wider community," he added.