Affordable Docklands apartments taking shape

An innovative development to boost affordable housing for those on low and medium incomes is taking shape in Melbourne’s Docklands precinct, following an almost $14 million investment by the Brumby Government.

Housing Minister Richard Wynne today joined project partners Lend Lease and Melbourne Affordable Housing (MAH), to inspect progress on The Merchant apartment building at Victoria Harbour.

Mr Wynne said the development would deliver 57 new affordable apartments, near to the heart of Melbourne; its jobs and services.

“The Brumby Government is taking action to boost the amount of housing to those Victorians in need and this development offers a glimpse of the affordable housing of the future,” Mr Wynne said.

“This development represents a new approach to deliver more and better affordable rental housing, backed by our record $500 million investment announced in last year’s budget, by building partnerships between developers, government and not-for-profit housing providers. "This development represents a new approach to deliver more and better affordable rental housing."

“The Merchant will deliver 57 new high-quality homes at a reduced cost to the taxpayer and will reduce the public housing waiting list by offering accommodation to tenants who work or are in education or training in the Docklands area.”

The eight-storey Merchant building will include 133 apartments and ground floor retail space. Three floors, comprising 57 one and two-bedroom apartments, have been purchased by MAH, which is a not-for-profit housing association providing long-term, affordable rental housing.

Mr Wynne said it was the first Docklands development to incorporate affordable rental housing,

“The Merchant will add dramatically to the diversity and vibrancy of the Docklands area,” Mr Wynne said.

“In addition to the recently announced Elizabeth Street CommonGround Supportive Housing Project, the Brumby Government is tackling the lack of high-quality affordable housing in the inner-city area.”

The affordable housing component of the project is $18.7 million, with the Brumby Government contributing $13.9 million; $8.5 from the Office of Housing and $5.4 from the Victorian Property Fund (VPF).

Consumer Affairs Minister Tony Robinson, who approves VPF funding, said The Merchant was a wonderful example of the business, community and government sectors all working together.

“The VPF is there to provide grants for projects which increase the supply of affordable housing or make housing more environmentally friendly,” Mr Robinson said.
“The Brumby Government is committed to getting the best value in delivering our projects and by working with Lend Lease and MAH, Victorians will see a great return and more high-quality housing for those in need.”

Construction work on The Merchant began in mid-2008, and is estimated to be complete by December 2009.