Homes for Homes is an emerging initiative that aims to increase Australia’s supply of social and affordable housing. It was developed by the country’s most successful social enterprise, The Big Issue.
Homes for Homes has raised $140,000 in the ACT, including $116,000 through sales in new community Denman Prospect. Money raised will be invested back into the local community to increase the ACT’s supply of social and affordable housing.
Capital Estate Developments committed the suburb of Denman Prospect to the initiative last year. Capital Estate managing director Stephen Byron said he was excited it was the first entire suburb in Australia to commit to the initiative.
“Our commitment is that we will donate 0.1 per cent of the sale proceeds of all land we sell at Denman to Homes for Homes to be used for homeless projects in the ACT,” he said.
Properties sold in Denman Prospect will have a permissible caveat, meaning future sales will continue raising money for the initiative, unless it is removed.
NRL team Canberra Raiders has also raised money for Homes for Homes in the ACT this season, through a partnership with Denman Prospect. The Raiders donate money for every point they score during home matches at GIO Stadium.