CONSTRUCTION COMMENCES ON SIGNIFICANT AFFORDABLE HOUSING PROJECT IN GREEN SQUARE
Construction is commencing on a major new development in Green Square that will deliver 264 new affordable rental apartments.Acacia Apartments in Alexandria is one of the latest housing projects funded through the Federal Government’sHousing Australia Future Fund Facility (HAFFF), and has government and the private sector working with not-for-profit community housing provider, City West Housing to deliver the 135 social and 129 affordable rental apartments.
The $255m City West Housing project will provide critically needed rental homes for people on very low to moderate incomes to keep them close to work, services and their community in the inner city. City West Housing Chief Executive Officer Leonie King said the project demonstrates the value of strong partnerships in delivering affordable housing.
“With more than 1,900 eligible households currently on City West Housing’s waiting list in the City of Sydney,
Acacia Apartments will help to provide safe, secure affordable homes for 264 lower income households in the
heart of one of the country’s most expensive cities.”
The City of Sydney provided the land at a discount and funding for the project.
Lord Mayor of Sydney, the Rt Hon Clover Moore AO, said: “Affordable housing is essential for a diverse, cohesive
and economically successful global city. More importantly, it’s a basic human right. That’s why we use all levers
available to us to maximise genuinely affordable housing. We are so proud to support developments like Acacia,
which will be life changing for those households who get to call Acacia home.”
Special Envoy for Social Housing and Homelessness, Josh Burns MP, said “This project will change the lives of
hundreds of very low, low- and moderate-income residents on the waiting list for affordable rental housing in
Sydney. It’s yet another example of what can be achieved when all levels of government – backed by the Housing
Australia Future Fund – work together with community housing providers like City West Housing to build more
social and affordable homes for those in need.”
In a first for City West Housing, construction finance has been procured through a Social Loan, issued under the
Commonwealth Bank of Australia (CBA)’s new Social Loan Framework.
CBA’s Managing Director, Specialised Industries Michael Thorpe said: “We’re proud to support City West
Housing in delivering much-needed affordable rental accommodation in inner Sydney. This aligns with
CBA’s broader efforts to increase housing supply and affordability by partnering with government and
institutional investors to mobilise capital where it’s needed most.”
The development has also secured funding through Housing Australia with CEO Scott Langford commenting:
“Through the Housing Australia Future Fund Social and Affordable program, community housing providers like
City West Housing are able to access concessional loans, long term subsidies and take out finance to help them
deliver more homes for those in our community who need it most”.
New South Wales Housing Minister Rose Jackson said the development demonstrates what is possible with
strong collaboration across government and industry.
“Acacia Apartments is exactly the kind of project we need more of – well-located, high quality homes for the
people who need them most. This is what happens when government, community housing providers and industry
work together with a shared purpose, and I’m proud to see construction underway,” Minister Jackson said.
Acacia Apartments will be delivered by an experienced project team, with AJ+C appointed as project architect
and Infinity Constructions Group appointed as the builder.
AJ+C is a long-established Sydney architectural practice with experience across residential and urban renewal
projects.Infinity is an ISO-certified, multi award-winning builder with more than 30 years’ experience delivering complex
projects across Sydney and Melbourne.
Managing Director Alan Yazbek said the company was proud to partner with City West Housing on such an
important project one centred on “affordability, wellbeing and community,” while continuing to build on Infinity’s
legacy of excellence in construction.
Acacia Apartments has been designed to support long-term affordability and sustainability, including an
all-electric design and a partnership with GoGet to provide shared vehicles and reduce reliance on private car
ownership.
Acacia Apartments forms part of City West Housing’s secured development pipeline of 536 affordable housing
apartments in the City of Sydney, in addition to its existing portfolio of 964 apartments across the local area.
The project builds on City West Housing’s recent completion of Boronia Apartments in Waterloo, which delivered
74 affordable homes and is now home to 125 residents, demonstrating the organisation’s continued ability to
deliver quality housing outcomes.
About City West Housing
City West Housing is a not-for-profit community housing provider established in 1994, with a long track record of
delivering and managing affordable housing across the City of Sydney. City West Housing is an affordable housing
provider and developer with heart. We are focussed on creating highly quality, affordable homes and communities
where everyone can feel they belong.
City West Housing has close to 1,000 quality homes in prime inner Sydney locations that are rented to more than
1,700 residents and their families.
City West Housing is the only dedicated affordable housing provider in New South Wales delivering the full spectrum
of services from new housing development to tenancy and property management and community engagement. We
are expert in developing quality fit-for-purpose residential apartments.
About Acacia Apartments
Acacia Apartments is located on Botany Road Alexandria in the Green Square Town Centre, close to significant
public infrastructure and amenities, including:
• Green Square train station with direct CBD and airport access
• Green Square library and civic plaza
• Gunyama Park Aquatic and Recreation Centre
The project is being delivered through a collaborative funding model across government and industry, including:
• City of Sydney affordable housing developer contributions and discounted land sale.
• Housing Australia Future Fund – Round 1 funding including a concessional loan during construction and a
term loan on completion.
• Commonwealth Bank construction finance through a Social Loan and under its new Social Loan Framework.
Social loans are a type of sustainable finance used to support projects and activities that address a social
issue or achieve positive social outcomes for a target population.
• City West Housing, providing equity and leading delivery and long-term management.
