ALMOST $200,000 will be raised for social and affordable housing in Victoria through a partnership between developer Jinding and not-for-profit social enterprise Homes for Homes.
Under the agreement, Jinding will donate 0.1 per cent of the sale price of each lot upon settlement at its Broadstead Kilmore development to Homes for Homes to deliver social housing in the broader community.
More than $16,000 will be generated upon settlement for Homes for Homes from the first release at the 500-lot Broadstead Kilmore.
Jinding communities head of development Chris Ravat said the money would go towards creating social and affordable housing for disadvantaged Victorians – especially in light of the cost of living crisis.
“We know homelessness is getting worse and with a predicted shortfall in social and affordable homes of one million by 2036, real solutions are needed now more than ever,” he said.
“The beauty of the Homes for Homes scheme is it offers a concrete pathway for continual donations if homeowners elect to keep the 0.1 per cent sale price caveat on their land title, ensuring each time the property is sold, more funds go towards Homes for Homes.
“It is also great for our homebuyers to know they can buy their dream property and help to put a roof over the head of our most disadvantaged at the same time.”
Homes for Homes has estimated a total of $1.4 million could be raised over the next three decades.
Chief operating officer Tracy Longo said the partnership was a great step forward to solving the housing crisis.
“Each contribution from this development helps us work towards a future where every Australian has access to safe and secure housing,” she said.
“We thank the Jinding community and residents for coming together on such a critical issue.”
Broadstead Kilmore is located on 60 hectares off Quinns Road.
For more information on Homes for Homes, visit homesforhomes.org.au.
