Homes for Homes Awards First Funds
Homes for Homes has announced its first-ever funding recipients with $300,000 awarded to social and affordable housing projects in Victoria and a further $200,000 awarded in the ACT.
Women’s Property Initiatives, HousingFirst, Habitat for Humanity Victoria and Housing Choices Australia will share in the Victorian funding. Havelock Housing Association will receive the ACT funding.
Homes for Homes, established by The Big Issue, tackles Australia’s chronic shortage of 200,000 social and affordable homes by raising money through donations from property sales.
Funds are then invested in housing projects in the state or territory in which they were raised. An independent assessment found Homes for Homes has the potential to raise more than $1.8 billion over 30 years.
The first funding announcement is an important milestone for Homes for Homes. Homes for Homes CEO Steven Persson said:
“Homes for Homes provides a way for the community to solve our housing crisis collectively. The initial response has shown there is an enormous appetite to address this problem, and we are delighted to deliver the first funds years ahead of schedule,” Mr Persson said.
“The five funding recipients offer real, innovative solutions to homelessness and the housing shortage in their local communities.”
Assistant Minister for Social Services, Housing and Disability Services, Sarah Henderson, said that Homes for Homes is an innovative approach.
“The Australian Government is investing $6 million in Homes for Homes, and now its new affordable housing initiative has become a reality. The generosity of homeowners donating to this initiative is testament to the Australian way.” Ms Henderson said.
Funding recipients were selected by expert, industry-based advisory panels.
Victorian funding recipients
Housing Choices Australia
$20,000 to support the Nightingale Village, a mixed tenure development offering private, disability and social housing in Brunswick
Habitat for Humanity Victoria
$40,000 to support a six-star energy rated, three-bedroom house for a family in need in Habitat for Humanity Victoria’s Yea development.
$120,000 to contribute to the redevelopment of St Kilda’s City Gate apartments, which provide low-cost accommodation to people experiencing homelessness in inner Melbourne, as well as support programs to at-risk groups including homeless women with babies.
Women’s Property Initiatives
$120,000 to support a pilot project for a four-unit development that will house women over 55 who are living in the private rental market and don’t have enough money to buy their own home.
ACT funding recipients
Havelock Housing Association
$200,000 to support the development of a new program, Homes with Heart, which will offer specially designed long-term accommodation to matched pairs of older women.
The Homes for Homes model
Homeowners and other property stakeholders voluntarily register with Homes for Homes, agreeing to donate 0.1 per cent of their property’s sale price to the initiative at the time of sale (for example, a $500,000 sale results in a $500 donation).
The Homes for Homes legal mechanism stays on registered property titles, prompting a donation each time the property is sold in the future.