Affordable Rental Housing Troy Daly Greater Sydney Commission - - PowerPoint PPT Presentation
Affordable Rental Housing Troy Daly Greater Sydney Commission AFFORDABLE HOUSING FORUM An initiative of SSROC, Planning Institute of Australia & Community Housing Providers Aerial Function Centre UTS, 24 July 2017, 8.30am to 4.30pm
Troy Daly
Greater Sydney Commission
An initiative of SSROC, Planning Institute of Australia & Community Housing Providers Aerial Function Centre UTS, 24 July 2017, 8.30am to 4.30pm
#ahf2017
#ahf2017
5 10 15 20 25 30 Upzoned value 5 10 15 Current value
consideration of other essential local and state infrastructure costs will shape the viability test
will require that a major component of windfall land gains remain with the land owner – but room remains for value share
‘institutionalised’ approach to including Affordable Rental Housing in major housing projects – with the underlying cost embedded in lower land prices
Capped local and state ‘value share’ Majority share of windfall gain with land owner
The 5-10% Target range allows flexibility to tailor Targets to localised viability Unearned planning gains are
Case by case extraordinary site costs Land owner – land price received has contributions embedded
#ahf2017
1. Existing land owners need an average price gain factored into viability to support amalgamation 2. A full development project margin is used to calculate value share decisions 3. The total of all local and state charges cannot exceed 50% of land value gains from rezoning decisions
Section 9 94 Ex Exem emption Co Compa pact apa partment
De Density ty bonus s sale va value
5-10 10% AR ARHT $$ f from ARHT i in p precinct
La Land va value/cost Co Construction cos costs
Support for longer tenure, lower rates, reasonable ICRs through bond aggregator vehicle ‘Quasi equity’
Potential for other equity sources with partners including government initiatives
Debt
Equity