“Public Lands in Public Hands”
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NSW Government proposes to hand over (lease) free-of-charge, the property on Elizabeth St Redfern, to the successful tenderer for a “Build-to-Rent” development. This site opposite the Redfern oval was apartments managed by Housing NSW which were demolished. The PCYC gym is still operating on the site and it is unclear where it will be rehoused. It has been fenced open space for about 7 years. http://www.planning.nsw.gov.au/Plans-for-your-area/State-Significant-Precincts/Elizabeth-Street-Redfern
The “Build-to-Rent” model gives a 40 year lease to the property developer at no charge. They have to provide 30% “affordable housing” which is only a 20% reduction of the market rent, which hardly helps the needy. The “affordable housing” is only required to be 5 to 10% of floor space. The “affordable housing” will be the tiny flats next to the rubbish bins! https://www.communitiesplus.com.au/news/nsw-government-build-to-rent
The developer will benefit from the profits made from the rent, can borrow against the property, and extend the lease under a different government in 2058. What benefit does the public get? Why doesn’t the NSW government build much needed public housing on the site?
If by some chance the property is handed back after 40 years it will be in need of repair and be ready for demolition. What developer builds a leasehold development to last?
We propose that Housing NSW build apartments for the needy. True public housing. The NSW government has plenty of money from the sale of other housing properties – it is time that it is spent on public housing. The whole site should be public housing. There is no benefit to the state or the people to this proposal.
The NSW government’s generous offer to greedy developer must be stopped. Sign the petition and spread the word.
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