UnitingSA is proud that its housing division, UnitingSA Housing, has been awarded a $7 million low interest loan through the National Housing Finance and Investment Corporation (NHFIC).
It is the first such loan for a tier-two housing provider in Australia.
The 10-year loan will enable us to fast-track several social housing developments, including the planned construction of nine two-storey townhouses in Kurralta Park, designed for single parents and small families.
The NHFIC loan also boosts UnitingSA’s strategic initiative to develop 120 new social and affordable homes during the next 10 years to help meet the growing need for affordable housing, particularly for South Australians on low to moderate incomes.
UnitingSA CEO Libby Craft said the funding will have a significant and positive impact on the provision of further low-cost housing for South Australians.
“We are delighted to have secured the NHFIC funding and are very proud that UnitingSA Housing is the first tier-two provider to receive it. It recognises our strong track record in delivering high quality housing projects – a record we’re really keen to build on,” Ms Craft said.
“We believe it is a fundamental right of all people to have access to safe, secure, affordable and accessible housing, and the decline of available community housing is an enormous challenge.
“The NHFIC loan enables us to fast-track our housing growth plans, including our wonderful development at Kurralta Park, and ensure greater access to affordable and quality housing for our community.”
NHFIC CEO Nathan Dal Bon said the loan to UnitingSA Housing demonstrated that NHFIC was committed to supporting a range of Australian registered CHPs.
“NHFIC is pleased to be providing this finance to UnitingSA, especially as this is our first loan to a tier-two CHP and our second in South Australia,” Mr Dal Bon said
“We look forward to building on this further and providing more finance to all tiers of CHPs to increase and accelerate the supply of social and affordable housing across Australia.”
UnitingSA Housing secured this finance through NHFIC’s inaugural $315 million social bond, which was launched in March.
UnitingSA Housing manages 382 properties that provide a home for more than 700 South Australians.