WA Government Invests $100 Million in New Perth CBD Apartments
The Western Australian government is investing over $100 million in a new 30-storey apartment building in Perth's CBD to help alleviate the city's housing shortage. The project will provide 174 affordable and social housing units and is expected to be completed by 2029.
The Western Australian government has announced a significant investment of over $100 million in a new 30-storey apartment building in the Perth CBD, aimed at easing the city's housing shortage. The project, set to be built on Roe Street adjacent to the Perth Arena, will provide 174 one- and two-bedroom rentals for affordable and social housing.
The building, expected to be completed by 2029, will comprise 139 affordable housing units and 35 social housing units. According to Housing Minister John Carey, the state government is "throwing everything" at accelerating housing supply across WA, with support from the federal government's Housing Australia Future Fund.
"Never have we seen in our state's history so many build-to-rent projects underway," Mr Carey said.
"These are the kinds of projects that we want … close to amenities, close to jobs."
Minister Carey expressed hope that the project will drive activity in the Perth CBD and emphasized that the aim is to enable more than 40 build-to-rent projects across WA, made possible by joint investment.
Once constructed, the apartment complex will be sold to a community housing provider, which will then set the rental prices. The government noted that build-to-rent projects are purpose-built for the long-term rental market, differing from traditional apartment complexes.
Anglicare WA Chief Executive Mark Glasson welcomed the announcement, stating that additional social and affordable housing stock is "sorely needed" in Western Australia.
"Western Australia is in the midst of a housing crisis that is unprecedented in our history," Mr Glasson said.
"Every day we talk to people on low incomes who are struggling to find and keep rentals in this market ... [they] are forced to make impossible decisions to stretch their budgets thinly enough to keep their rentals."
Mr. Glasson urged the state government to continue its Rent Relief Program and ramp up construction efforts further to address the housing crisis effectively.