Developers to fund Masterplan

“A budget for full masterplanning has not yet been determined. This is because Housing NSW is likely to undertake full masterplanning in association with the private sector, following a process of private sector engagement, as the project targets private and social housing development to be undertaken in tandem. Consequently, funding for full masterplanning may be derived, at least in part, from the private sector.”

When the private sector gets involved they look to maximise their returns and it becomes more difficult to hold public and private priorities together. The public housing priorities can be whittled back by the developer’s self-interest and potentially a contribution to Treasury rather than to improved public housing stock. The “Preliminary” plan must comprehensively deal with the public housing side of the development before the private sector starts to drive the project. REDWatch has asked HNSW to clarify what will be covered in the “Preliminary” plan. For example are both the Government and Housing NSW committed to renovating the high-rise and mixing public tenants across all housing types as promised by the RWA in the BEP2 Q&As?

Source: November 2011 South Sydney Herald http://www.southsydneyherald.com.au/