Homes for Homes is a voluntary scheme that encourages homeowners to donate 0.1 per cent of the sale price of their home at the time that they sell. For a $750,000 property, this would equate to a tax-‐deductible donation of $750.
Funds raised will be used to build, refurbish and manage affordable social accommodation for low income and homeless people in Australia. Over time, by encouraging each new property owner to participate in the initiative, Homes for Homes aims to provide a long-‐term and sustainable source of new funding to deliver affordable housing for Australians in need.
Grocon’s owners, Daniel and Kat Grollo, have donated $270,000 to Homes for Homes, which is equivalent to 0.1 per cent of the sale price of all 536 of the Swanston Square Apartments sold. This contribution, combined with the move to invite the new owners to commit to the Homes for Homes program, will lead to the initiative gaining its first critical steps to a sustainable future.
In addition to Daniel and Kat’s commitment, Grocon has directed that a portion of the royalties from the electricity provider for Swanston Square will be donated to Homes for Homes. This will see a meaningful further contribution each year over the next five years.
Grocon has also announced its commitment to participate in Homes for Homes for all future residential developments where Grocon controls the sale outcome. This means that for these projects, purchasers will be contracting to enter into Homes for Homes at settlement (with an ability to opt out at any time) and Grocon will be donating 0.1 per cent of the sale proceeds on initial settlement to Homes for Homes.