$43m Fitzroy housing project opens
Melbourne's residential property sector received a $43 million boost this week after the Victorian government officially opened a major housing project in Fitzroy.
"This is a wonderful outcome for the Fitzroy area, with the building providing 152 apartments, 76 one bedroom and 76 two bedroom," minister for housing Wendy Lovell said yesterday (November 21).
The multimillion-dollar housing initiative is a major benefit for those looking for rental properties in the Victoria capital, with the new dwellings providing Melburnians with more accommodation options.
Located on Brunswick Street, the apartments were funded by the federal government's Housing Affordability Fund and are part of a larger project to construct 547 homes in Richmond, Prahran and Fitzroy.
Ms Lovell said the dwellings, which are family friendly, will boost the affordable housing market.
"I'm delighted that the new building includes a children and parents' hub on the ground floor, to be open from next year, known as the Connie Benns Centre, named after Conchetta 'Connie' Benns - a tireless fighter for social justice for disadvantaged Victorians," she remarked.
Situated two kilometres north-east of Melbourne's CBD, the average cost of a house in Fitzroy is $753,750, while the median unit price is $617,500.