The WA Government is investing $80 million to try and increase accommodation in the state.
Through funding from the Infrastructure Development Fund, 653 apartments will be built.
The Infrastructure Development Fund is worth $80 million, and the first round of funding has gone to twelve projects.
WA Deputy Premier Rita Saffioti and Planning Minster John Carey commented on the issue this morning.
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“Our Government is doing everything we can to boost housing supply in Western Australia including through reforms that encourage urban infill and regional land supply,” he said.
“The $80 million Infrastructure Development Fund is a key part of our Government’s efforts to help the industry with significant up-front costs involved in establishing essential infrastructure for housing developments – which we know has delayed projects throughout WA.”
According to the WA Government, the Fund is designed to “subsidize the upfront costs of connecting water, electricity, and sewerage”.
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“Funding will be paid directly to the infrastructure provider,” it stated.
“Successful applicants will benefit from a rebate of up to $10,000 for each apartment in a multiple-dwelling complex, with the funding to be provided directly to the infrastructure provider.
During “the first tranche”, the Government will give away $6.53 million.
“This initial funding release of $6.53 million – through the targeted apartment rebate – will help twelve applicants to get on with delivering these projects, which are crucial in bringing new housing to the market as quickly as possible,” said Minister Carey.
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According to the government, the money will go towards the building of over six hundred “apartments in Burswood, Cannington, Como, Maylands, Mount Pleasant, Nedlands, North Fremantle, West Leederville, West Perth, and Woodlands”.
Applications for the fund opened in March.
Deputy Premier Rita Saffioti stated that the fund has received “a fantastic response”.
“This first release of funding will help unlock the development of 653 apartments in established Perth suburbs, signaling the start of a pipeline of medium and high-density housing projects which will provide greater housing choice and create vibrant, well-connected urban communities,” she said.
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“Supporting new medium and high-density housing development will promote urban consolidation, housing diversity, and activation in priority infill locations.”
“Housing projects” in regional areas, as well as the city, are eligible for funding, with “three program streams”.
The Government is putting $40 million towards creating “worker accommodation opportunities in regional areas”, and another $40 million towards “Perth developments in priority infill areas” like “METRONET station precincts and Housing Diversity Pipeline sites”.
“We have allocated $40 million in funding to metropolitan projects to help remove some of the barriers that hinder the progression of medium and high-density development in Perth’s established suburbs,” said Minister Carey.
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The State Government is also trying to “streamline the planning system”.
The fund is being overseen by the Department of Planning, Lands and Heritage, with the chance to apply to end on September the sixth of next year, or if the available “funds are exhausted”.
For more information or to put in an application, go to www.wa.gov.au/infrastructure-development-fund.