The Territory Labor Government is investing $21 million into more social and affordable housing to improve liveability, boost our economy and drive investment right across the Northern Territory.
Having a home provides better outcomes for the community, creating generational change, safety and security for Territorians.
Improved liveability plays an important role in attracting and retaining people who contribute to our economy and call the Territory home.
The $21 million will be invested into housing stock in the areas of:
New builds across Darwin, Palmerston, Katherine, Alice Springs and Tennant Creek; Developing an Affordable Housing rental subsidy program; Investment into building additional Affordable Housing units in Palmerston and Katherine; Releasing the first land packages for Community Housing Projects; and Releasing additional land packages for Specialist Disability Accommodation.
The first $7 million of this spend will be rolled out immediately with the Territory Labor Government partnering with Venture Housing to supply 41 affordable homes across the Territory.
These Community Housing growth projects include $4 million to increase housing supply and $3 million for a rental subsidy scheme.
The $4 million affordable housing program will include:
The transfer of Government owned land in Katherine with capital grant funding to build eight brand new homes for local families. A co-contribution towards eight affordable homes in Palmerston that Venture Housing has recently acquired.
Construction of 25 innovative micro apartments in an existing underutilised building in Palmerston CBD, targeting singles and couples.
An additional $3 million is being invested in a rental subsidy scheme for eligible Territorians on low to medium incomes to relieve the financial burden of renting a home in the private rental market. This initiative aims to relieve workforce shortages currently experienced by many local businesses across the Territory, by offering valuable incentives to retain and attract essential staff.
The scheme is currently being developed by Venture Housing and will include a rental subsidy range from $6,000 – $12,000, for up to twelve months. The amount provided will be dependent on the size of the household and the market they are renting in.
The program will be administered in Darwin, Palmerston, Katherine, Tennant Creek and Alice Springs.
The Territory Economic Reconstruction final report recommended planning for future population demands, and establishing a sustainable community housing industry to deliver affordable and available housing and this is what we are delivering.
“This investment will see new builds in Darwin, Palmerston and regional centres across the Territory, making living in a home more accessible and affordable.” said Chief Minster Michael.
“Securing affordable homes that are ready to go will benefit our economy, in attracting more workers to help industry grow and keep business ticking over and unlocking.”