Evolve Pacific Developments: Delivers Affordable Housing across NSW

Feb 09, 2021 , ,

The establishment of Evolve Pacific Developments (EPD) brought together two leading and highly regarded Community Housing Providers, Evolve Housing and Pacific Link Housing, so that they could, jointly provide more affordable housing for those in greatest need in our community. Their combined efforts have resulted in the completion of three successful developments at Woy Woy, Roselands and Canton Beach, delivering a total of 87 new studio apartments.

The already significant existing need for social and affordable housing has surged even further with the economic impact of COVID-19. The EPD built apartments have provided the clients of both organisations with a high-quality housing solution and the provision of a safe and secure accommodation environment.

Following the completion of the final of the three developments in August 2020, the two organisations mutually agreed to divest ownership of the assets between themselves under the terms of the Joint Venture Agreement. This development now allows the assets to be leveraged as Loan Security through the National Housing Finance and Investment Corporation, to provide capital for the provision of further housing under each entity’s Charter and Affordable Housing mandates.

CHIA NSW CEO Mark Degotardi said ‘’the commendable collaboration between two of NSW’s Tier 1 Community Housing Providers reflects the quality of the development expertise, best practice governance, and overall maturity and capability of the sector’’.

Pacific Link Housing CEO Ian Lynch said it is incredibly pleasing to see the objectives of the joint venture fulfilled, particularly with the increased financial pressures individuals and families are experiencing due to the current pandemic.

“Many Australian families are currently experiencing significant housing stress, and this is predicted to rise a further 24% in 2021. The EPD developments will help to ease housing insecurity for some, but the stark reality is that demand far outstrips the current supply capability“, Mr Lynch said.

Evolve Housing CEO Lyall Gorman said that the joint venture had a significant impact on the communities in which they have been built by creating new housing supply that would endure for many years.

“Evolve Housing is very proud of the outcomes of our joint venture with Pacific Link Housing, which has provided high-quality, affordable housing for low to moderate income earners who might otherwise find it challenging to address their housing needs in the private housing market.

“We have received very positive feedback from the residents living in the buildings that our joint venture has created, and I have no doubt that these apartments will continue to be well-used and appreciated by the people who need them for years to come.”

After visiting the Canton Beach apartments, Gareth Ward (Minister for Families, Communities and Disability Services) stated that “These brand new homes are modern and inviting, and will provide a safe place to call home for people who are at risk of homelessness in our community.”

A gratifying and extremely rewarding end to the EPD joint venture was achieved in EDP winning the 2020 Excellence in an Affordable Housing Development Award from the UDIA NSW (Urban Development Institute of Australia). EPD received the award for its development in Roselands, which included 26 fully furnished social and affordable housing studio apartments and communal indoor and outdoor space.

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MEDIA ENQUIRIES

Ian Lynch, CEO, Pacific Link Housing

Mobile. 0423 506 342 | Email. ianl@pacificlink.org.au

Shannon Cochrane, Communications and Public Relations Officer, Evolve Housing

Phone: 02 8862 1529 | Email: shannon.cochrane@evolvehousing.com.au