Financial close achieved, work underway on Perth social and affordable housing project

PERTH, WESTERN AUSTRALIA – Financial close has been achieved and work has commenced on a 213-unit social and affordable housing project in Perth, the second of four housing projects being delivered by Plenary in partnership with Foundation Housing and H-U.

The Rise@Murdoch development – being delivered alongside leading industry partners including ABN Group and PACT Construction – is the largest of four social housing projects awarded last year under the first round of Housing Australia’s Housing Australia Future Fund (HAFF) and the Western Australia Government that will see the delivery and management of 396 social and affordable housing dwellings worth a combined $280 million across four sites around metropolitan Perth.

Rise@Murdoch will provide 65 social homes and 148 affordable rental homes within Murdoch Health and Knowledge Precinct. Located close to Fiona Stanley Hospital, Murdoch University and public transport, the development will provide well-located homes for people who want to live close to employment, education and essential services.

Plenary is financial and commercial adviser on all projects and development manager on one of the projects.

WA Housing and Works Minister John Carey said the development is part of the WA Government’s ambitious program to deliver significant affordable build-to-rent developments across Perth.

“This demonstrates our commitment to working with the Federal Government and the community housing sector to increase the supply of social housing and rentals for low-income workers,” Minister Carey said.

“The project will see the delivery of affordable housing options close to Fiona Stanley Hospital, Murdoch University and public transport and is part of our record $6.3 billion housing spend.”

Foundation Housing CEO Chris Smith said the project demonstrates the power of partnerships in delivering large-scale housing solutions.

“This project will deliver 213 new homes in a well-connected location and make a meaningful contribution to increasing housing supply in Perth’s southern corridor,” Mr Smith said.

“Developments of this scale and complexity rely on strong partnerships across the construction and development industry. We’re proud to be working alongside organisations including ABN Group, PACT Construction, Plenary Group and Human Urban, whose expertise and collaboration are critical to bringing projects like this to life. By bringing together government, the community housing sector and industry leaders, we are able to deliver high-quality social and affordable homes close to major employment and education centres.”

Plenary Group Head of Development Sergio Calcarao welcomed the progress being made on HAFF’s program of social and affordable housing.

“Plenary is uniquely positioned to help solve this crisis with our combination of expertise in both housing and infrastructure,” Mr Calcarao said.

“This funding is recognition of the meaningful role we can play in partnering with community housing providers to deliver significant housing over the next 25 years and beyond. Through the HAFF, Plenary can provide the physical asset and financial structures that allow community housing providers to do what they do best and help the people who need it most.”