The initiatives will back the development of over 20,000 homes throughout Australia
Clayton Utz is assisting Housing Australia on the legal aspects of the Housing Australia Future Fund Facility (HAFF) and the National Housing Accord Facility (NHAF).
These initiatives are intended to bolster housing outcomes in Australia. All together, the five-year program will back the construction of 20,000 new social homes and 20,000 new affordable homes throughout Australia.
The $10bn HAFF represents the Commonwealth Government's most significant investment in social and affordable housing in more than 10 years. The fund was launched to establish a reliable financing stream for the construction of social and affordable rental housing, including for those with urgent housing needs.
Meanwhile, the NHAF reflects the collaboration of all levels of government, investors, and the residential development, building and construction sectors to secure a medium-term supply of quality, affordable housing.
Housing Australia began receiving applications for funding on 22 March.
Clayton Utz’s team on the transaction is being headed by partners Nikki Robinson and Jo Pugsley.
"The HAFF and the NHAF represent significant steps towards addressing housing affordability and accessibility issues in our communities and will help to deliver greater capacity into the market when it is most needed”, Robinson explained. “In addition to providing housing support to at-risk groups including Indigenous and Torres Strait Islander communities, women and children experiencing domestic and family violence, and those at risk of homelessness, these initiatives are helping to create sustainable housing outcomes for all Australians. Our team look forward to seeing the positive impact these initiatives will have".
