Plenary to partner with Foundation Housing on Western Australian social housing projects

PERTH, WESTERN AUSTRALIA: Plenary Group-supported submissions from Foundation Housing have been awarded four social housing projects worth a combined $280 million under the first round of Housing Australia’s Housing Australia Future Fund (HAFF).

The four HAFF projects will see the delivery and management of 396 social and affordable housing dwellings at four sites around metropolitan Perth, providing safe, secure, affordable housing to Australians in need.

The projects are being delivered in conjunction with Foundation Housing and H-U.

Plenary will act as financial and commercial adviser on all projects, is an investor in one of the four projects as well as development manager on another.

Foundation Housing Chief Executive Officer Chris Smith said the projects were critical to improving housing security across Perth.

“Housing security has become a significant and real challenge for many across WA in recent years,” Mr Smith said.

“For individuals working in critical industries such as health and policing, drastic house price increases have reduced the ability to live close to employment hubs. This milestone investment will create much more than new homes; it will create opportunities for those who struggle to find secure and affordable housing close to employment opportunities.

“Everyone deserves the opportunity to access safe, sustainable and inclusive housing opportunities. The 396 new homes will strengthen Perth’s affordable housing network, providing more Western Australians with a stable and secure place to live.”

Plenary Managing Director Sergio Calcarao said Plenary stands ready to deliver on the promise of social and affordable housing for those in need via the HAFF program.

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

The first of the four projects achieved financial close in February and the remaining three are expected to achieve financial close in the coming months.