Mission Australia is looking to develop 130 affordable housing dwellings
Herbert Smith Freehills (HSF) has assisted national charity Mission Australia on the development of 130 affordable housing dwellings.
The units are part of the Midtown MacPark redevelopment project backed by the NSW Government and Frasers Property Australia. According to the firm, the project is among the biggest urban renewal projects in the country.
The Midtown MacPark project will create a mixed-tenure community with around 3,300 new homes. This includes 954 community housing units, 130 affordable homes, and 2,216 private market dwellings. The project also plans to introduce a new school, childcare centres, community facilities, retail spaces, and enhanced public open areas at the former Ivanhoe Estate in Sydney's Macquarie Park.
Mission Australia housing executive Chris Bratchford, Mission Australia Housing Executive, underlined the critical need for such housing solutions given the uptick in homelessness, costly housing and long waits for social housing.
"Safe, secure and affordable homes like these give people and families on low to moderate incomes a stable base to connect with their community, maintain wellbeing, raise a family, and pursue work or education opportunities", he said.
The HSF team was spearheaded by finance partner Erin Wakelin and real estate partner Nicholas Cowie. They were supported by senior associate Roger Kong, solicitor Stephanie Simm, and senior licensed conveyancer Suzanne Telfer.
"We are so pleased to have been able to assist Mission Australia with its objective of providing affordable housing for those in need at a time when demand for accommodation is so high", Cowie said.
The project is being developed by Frasers Property Australia under an arrangement with Homes NSW. The project's acquisition and delivery were funded by Housing Australia.
Teams from King & Wood Mallesons advised Frasers Property Australia and Housing Australia on the project.
