UNITINGSA’s housing division has been awarded a $7 million low interest loan through the National Housing Finance and Investment Corporation, the first of its type for a tier-two housing provider in Australia.
The 10-year loan will enable community service UnitingSA Housing to fast-track several social housing developments, including the planned construction of nine two-storey townhouses in Kurralta Park, designed for single parents and small families.
UnitingSA intends to develop 120 new social and affordable homes during the next 10 years as affordable housing requirements increase.
“We believe it is a fundamental right of all people to have access to safe, secure, affordable and accessible housing, and the decline of available community housing is an enormous challenge,” UnitingSA chief executive officer, Libby Craft said.
UnitingSA Housing secured the finance through NHFIC’s inaugural $315 million social bond, launched in March.
Celebrating its anniversary this year, UnitingSA provides housing, aged care and community services to support people across regional and metropolitan South Australia. UnitingSA Housing manages 382 properties that provide a home for more than 700 South Australians.