The rising cost of the private rental market means there is huge demand for more affordable housing in Australia’s capital cities with the problem becoming more acute in the inner city.
To help address this issue, the City of Sydney has established an ambitious target of 7.5 per cent of all city housing to be affordable housing, delivered by not-for-profit or other providers.
What is affordable housing
Affordable housing is aimed at very low to moderate income households and priced so that tenants are able to meet other basic living costs such as food and clothing. As a rule of thumb, for housing to be affordable it should account for less than 30% of gross household income.
The role of Wesley Mission
Wesley Mission is committed to working with the City of Sydney to help meet this need by providing 74 environmentally sustainable units of single and double bed studios plus four-bedroom units that can accommodate a group or family in the inner city suburb of Glebe.
These proposed well-appointed private units will be complemented by a number of communal areas including a café with partially open courtyard.
Located in Sydney’s inner west, Glebe offers a great location to provide affordable housing to help address the existing gap with easy access to employment, education and public transport.
Wesley Mission has also carefully considered the targeted tenant mix to ensure an appropriate fit, both within the building and the wider community, recreating the village environment within the inner city.