Perth housing project to boost inner-city living options
Inner-city living is set to become more affordable than ever in Perth, after the state government announced a multimillion-dollar residential property project in the heart of CBD.
With construction kicking off at the beginning of the month (December 1), the development will include 168 affordable units in Northbridge.
Lauding the project, state housing minister Terry Redman said the housing initiative would provide more rental property options in Perth, easing pressure off the real estate sector as a result.
"In partnership with Diploma Properties, the Department of Housing has used its land assets to help the private sector to finance this impressive project," Mr Redman explained.
"As well as seven commercial units, the development will provide 161 one and two-bedroom apartments offering a range of housing solutions, including social and affordable rental; the traditional rental and home ownership; and shared home ownership opportunities."
The minister said inner-city real estate was in demand, with 156 of the units having already been pre-committed off the plan.
The project is part of the state government's initiative to deliver 20,000 new affordable homes by 2020.