Bridge Housing flips NSW Government 30:70 model in Redfern Development

Bridge Housing and consortium partner Capella Capital will lead a $230M development to deliver a mixed-use precinct planned for Elizabeth Street, Redfern.

Pending final planning approval, Redfern Estate will comprise over 300 new apartments, with Bridge Housing owning around 39 units. The development team expects to deliver:

• 100 social housing homes owned by the NSW Land and Housing Corporation
• over 100 affordable homes for key workers and low to middle income families
• 11 Specialist Disability homes and around 100 market homes
• 3500sqm of community space, providing a hub for local services including the PCYC

Located near the iconic Redfern Oval and new Waterloo Metro station, the development will deliver a streetscape that embodies the culture of a vibrant inner-city neighbourhood. Rooftop gardens and outdoor spaces will nurture residents, whilst the wider community will be served by a mix of retail, cafes, a 3,500 sqm community centre and inviting public spaces.

Bridge Housing CEO Rebecca Pinkstone said they were delighted to have been selected to bring the project to life as the project developer in collaboration with Capella Capital. It is the first time a CHP has been appointed to lead a Communities Plus project.

“The development will become a blueprint for how the community housing sector, working in partnership with government, institutional investors, commercial lenders and the private sector, can deliver social and affordable housing at scale,” Ms Pinkstone said.

“With thirty years’ experience in the delivery of quality housing and services, Bridge Housing is uniquely positioned to deliver affordable housing designed for the local community. The development will provide a template for how large-scale development can be undertaken to support a diverse and vibrant city.”

Bridge Housing further demonstrates its commitment to the community with plans to relocate their headquarters to Redfern once the project is complete.

Redfern Estate takes impact investment and sector collaboration for social outcomes to new heights. Each member of the consortium is committed to place-making and designing for community to create long-term, stable social housing and strong resilient communities.

Source: https://www.bridgehousing.org.au/properties/housing-development/redfern-estate

Bridge Housing have also issued a Fact Sheet on this development: Bridge Housing Fact Sheet on Elizabeth Street, Redfern Redevelopment