NHFIC funding supports community housing sector growth and more homes for lower income households

Funding from the National Housing Finance and Investment Corporation (NHFIC) has enabled 9 units to be acquired by community housing provider Bridge Housing, which will also manage the remaining 35 units owned by the NSW Land and Housing Corporation (LAHC).

NHFIC’s $5.25 million loan through the Affordable Housing Bond Aggregator (AHBA) is part of a $76 million funding facility available to Bridge Housing to refinance existing projects and acquire or develop new social and affordable housing. NHFIC funding to date has enabled Bridge Housing to refinance, purchase or develop 365 dwellings.

Federal Minister for Housing Julie Collins said, “supporting the community housing sector through cheaper, longer-term finance was just one of the ways the Government was helping tackle the country’s housing affordable challenges. 

“This exciting partnership shows what is possible when we’re working together,” said Minister Collins.

“We have an ambitious housing agenda, and key to that is our $10 billion Housing Australia Future Fund. This Fund will provide a secure, ongoing pipeline of funding for social and affordable housing with a guaranteed minimum of $500 million each and every year.”

NSW Minister for Housing Rose Jackson said, “The NSW Government is committed to addressing the need for more housing in Western Sydney. Homes that are safe, secure and accessible.

“As we navigate the housing crisis, partnerships with the Federal Government and community housing providers (CHPs) are crucial to ensure we’re not only creating more homes, but better homes in well-connected communities.

“The NSW Government are committed to delivering more social and affordable housing across the state. We want to get more people off the housing waitlist and into homes.”

NHFIC CEO Nathan Dal Bon said, “Housing affordability has become increasingly challenging in major cities, so it's great to see this project complete, and for NHFIC funding to support Bridge Housing to acquire some of the units.

“NHFIC funding is focused on increasing the supply of much needed social and affordable housing, but importantly we are also investing in the long-term sustainability of the community housing sector. NHFIC is saving CHPs, including Bridge Housing, significant financing costs and giving them decade-long certainty over their loan facilities, which will enable them in turn to invest in more social and affordable housing.”

Bridge Housing CEO Rebecca Pinkstone said, "In the middle of a housing crisis, every new home counts. These homes will help address housing insecurity and homelessness in Western Sydney. Strong partnerships must be at the heart of our solution. Bridge Housing has worked with the NSW Government to develop and fund new social and affordable homes for our local community. Supported by the National Housing Finance and Investment Commission and the Federal Government, we have been able to secure affordable finance that maximises the amount of housing on the ground.

“All of the new apartments meet the highest standards of modern design, environmental efficiency, and quality materials. These safe, secure, and affordable homes will be life changing for our residents” Ms. Pinkstone said.

NHFIC provides low-cost finance to registered community housing providers (CHPs) for social and affordable housing projects, via the Affordable Housing Bond Aggregator (AHBA). The AHBA sources funding from wholesale debt capital markets by issuing long-term social and sustainability bonds and from a line of credit provided by the Australian Government. More information is available at nhfic.gov.au.

Bridge Housing is a registered Community Housing Provider that sources and develops social and affordable housing for people on moderate-to-low incomes across 20 local government areas in greater Sydney. It has around 3,500 properties, housing 5,300 people.