The National Housing Finance and Investment Corporation (NHFIC) has finalised a $100 million agreement with NSW Land and Housing Corporation (LAHC) to fund critical infrastructure, accelerating the delivery of new social and affordable housing in NSW.
The ground-breaking deal will allow LAHC to access up to $100 million in loans and grants through the National Housing Infrastructure Facility (NHIF), which is administered by NHFIC.
NHFIC CEO Nathan Dal Bon said the funding would deliver crucial infrastructure supporting the development of much-needed community housing.
“NHFIC’s infrastructure facility was established to improve housing outcomes for everyday Australians. This agreement with NSW will support infrastructure works to enable the delivery of 781 new social and affordable homes at significant development sites across Sydney,” Mr Dal Bon said.
The $1 billion NHIF provides finance for eligible infrastructure projects that will unlock new housing supply, particularly affordable housing.
The NHIF offers both concessional loans and grant funding for new or upgraded infrastructure needed for new housing, such as roads, water, sewerage, electrical, communications, and remediation.
“This historic financial agreement showcases the opportunity for states and territories to work together and benefit from the NHIF, resulting in more housing supply across the country,” Mr Dal Bon said.