EchoRealty expands into Victoria with key worker housing
One of the biggest managers of affordable housing in New South Wales, EchoRealty, has expanded interstate, managing key worker housing in Victoria.
EchoRealty*, in association with First State Super and Altis Property Partners, is offering 55 affordable properties in Moonee Ponds, reserved for key workers employed in industries such as emergency services, education, law enforcement and healthcare.
Key worker tenants pay 80% of market rent, allowing them to live within close proximity to their workplaces without falling into housing stress.
The apartment building, which is located only seven kilometers north-west of Melbourne’s CBD, is a high-quality mixed tenure development and also includes 50 private apartments, which are being managed by EchoRealty at market rent.
All apartments within the building have the same high-quality features and equal access to amenities including a pool, gymnasium and entertainment areas.
EchoRealty is a profit-for-purpose real estate agency, and is one of the largest managers of affordable housing in New South Wales, currently managing a portfolio of more than 1200 affordable properties. It is a division of award-winning Community Housing Provider Evolve Housing.
This is the fifth project that EchoRealty is managing for First State Super and Altis Property Partners, working together also on key worker housing projects in Epping, Hurstville, Northmead and Waterloo in NSW.
Evolve Housing CEO Lyall Gorman, who attended the property launch event in Victoria, said that the project was meeting an important need for tenants.
“Key workers such as police officers, nurses and teachers are among the hardest working, most essential service providers in our community, but unfortunately, rising rental prices often prevent them from living within a reasonable commuting distance of their workplace,” Mr Gorman said.
“This project allows these workers to live in a high-quality environment and cut down on their commute time without having to stretch their budget. We know only too well the huge positive impact on quality of life and overall individual and family well-being that projects such as this have.”
“We would like to applaud First State Super and Altis Property Partners for having the initiative and social commitment to invest in key worker housing to produce the significant benefits it brings to communities and the vital workers within them.”
* in association with Jens Veal Byrne Pty Ltd ABN 56 608 923 646 trading as EchoRealty in Victoria under licence from Evolve Housing Limited ABN 16 127 713 731