- $17 million Cook Government investment unlocks almost 1,700 new apartments
- Additional builds to deliver major boost to WA's long-term housing supply
- Industry invited to submit new development proposals for lazy Government land
- New rapid Housing Diversity Pipeline Expression of Interest (EOI) open, with developers required to complete projects within agreed time
As part of the Cook Labor Government's ongoing reforms to increase housing supply in Western Australia, construction of a further 1,700 new apartments will be supported through the $80 million Infrastructure Development Fund.
A new rapid EOI is also opening today, offering industry opportunities to propose residential developments on any underutilised Government-owned land that is not already reserved for future hospitals, schools, roads, utilities or other essential civic infrastructure.
Twenty-two new projects will share in up to $16.91 million from the $80 million Infrastructure Development Fund's Targeted Apartment Rebate stream to support the delivery of up to 1,691 apartments across Perth including in White Gum Valley, Gosnells, Maddington, Subiaco and Woodbridge.
Eleven of these projects will include social housing options as well as specialist disability accommodation.
In response to key stakeholder feedback, the Cook Government has extended eligibility in the Targeted Apartment Rebate to include NDIS-registered purpose-built specialist disability accommodation.
The $80 million Infrastructure Development Fund continues to provide funding assistance to address up-front costs associated with connecting water, electricity and sewerage infrastructure, which have otherwise constrained development and impacted the viability of infill housing projects.
Since the Fund was launched, 16 supported projects have already commenced construction on 1,321 apartments. A further 63 apartment developments are also in the pipeline to receive funds to help industry deliver more than 4,000 additional apartments.
Applications for the Targeted Apartment Rebate, as well as the Unlocking Infill Precincts funding stream, have been extended until 6 January 2025, or until funds are exhausted: wa.gov.au/Infrastructure-Development-Fund.
A new rapid EOI has also been launched today, enabling developers to identify and potentially purchase underutilised State Government-owned land to deliver more housing and land supply sooner.
The EOI will be open for eight weeks, and will include a fast-fail approach to determine whether the land is required for future Government use. A further assessment will then determine if the land can be developed rapidly for residential purposes, the scope of the proposed development and the capacity of the proponent to deliver.
Valuations of the land will be undertaken by a panel of independent market valuers to ensure a reasonable price is received by the State. These funds will be reinvested into further housing initiatives.
Land developers will be required to achieve specified delivery milestones to complete the project within an agreed timeframe.
The rapid EOI is the next key stage of the Cook Government's pilot Housing Diversity Pipeline program to create a pipeline of housing developments, including the provision of more social and affordable housing options.
The first stage of the program received a strong response from industry, with a number of Government-owned metropolitan sites now in the advanced stages of securing development partnerships to deliver new mixed-use and social housing.
More information on the EOI is available at: www.haveyoursay.dplh.wa.gov.au/hdp.
As stated by Premier Roger Cook:
"Getting more Western Australians into homes quickly is a top priority for my Government, and we are looking at every opportunity to increase supply.
"Our $80 million Infrastructure Development Fund is already supporting construction of more than 1,300 new apartments - unlocking additional homes while creating housing diversity and choice.
"We are also harnessing the expertise of industry, encouraging the sector to identify underutilised State Government-owned land that could be developed for housing and submit proposals for assessment.
"Both of these initiatives are aimed at bringing more housing onto the market, sooner and smarter - supporting jobs and doing what's right for WA."
As stated by Treasurer Rita Saffioti:
"Our Government continues to invest in innovative solutions to address the demand for new housing.
"Programs like the $80 million Infrastructure Development Fund are delivering positive outcomes by helping to get multi-residential developments off the ground sooner.
"Since the establishment of the Infrastructure Development Fund, 79 apartment projects have been supported by our Government, helping industry to deliver more than 5,400 new apartments.
"We're continuing to drive new initiatives with the release of a rapid Expression of Interest process, whereby developers can identify suitable land and submit project proposals for the rapid delivery of new residential land and housing.
"This is a fantastic opportunity for industry to be part of the drive to deliver more housing diversity and create new jobs."
As stated by Planning and Housing Minister John Carey:
"The Cook Government continues its commitment to unlock a pipeline of new apartment developments in key urban Perth metropolitan precincts through our $80 million Infrastructure Development Fund.
"With construction already underway on more 1,300 new apartments, this latest $17 million will support another 22 projects delivering nearly 1700 additional apartments and boosting long-term housing supply by assisting industry with the up-front costs of establishing infrastructure for essential services.
"The effects of the COVID-19 pandemic have deeply impacted the viability and delivery of high-density developments - including supply chain challenges, skilled labour and cost escalations.
"This is why our Government continues to invest in a range of reforms to stimulate and support this important part of the housing sector, through our $80 million Infrastructure Development Fund, the pilot Housing Diversity Pipeline and new Keystart loan products.
"Our Government is unlocking lazy Government land through the pilot Housing Diversity Pipeline to maximise the potential of the land for social and affordable housing - including developments in Pier Street and Smith Street.
"We're now providing a further opportunity for industry to deliver more housing diversity through lazy Government land through a rapid Expression of Interest process for industry to identify any underutilised Government land to bolster housing supply.
"I encourage housing developers to view the online EOI information and submit a proposal."
As stated by Urban Development Institute of Australia WA CEO Tanya Steinbeck:
"This latest Expression of Interest phase is a critical step in further addressing the State's housing supply needs.
"On behalf of industry, UDIA WA recommended that providing the opportunity for private developers to identify appropriate Government land for residential development would help facilitate more housing on the ground, faster.
"We are pleased that the State Government has listened to our advice, given that we believe the private sector is best placed to deliver the housing supply we need quickly and efficiently."
