New approach for Lifestyle Village
Friday, 12th September, 2014
A real estate company that specialises in "affordable housing" has been appointed to breathe life into the Broken Hill Lifestyle Village project.
The housing project is on the site of the former Excelsior Oval in Brookfield Avenue.
My Place Property, a commercial venture, has been given the task of finding tenants for 20 of the 100 homes planned for the site.
Its General Manager Warren Kelly said the company would find tenants that fitted certain criteria, such as having a low income.
They would then place them in a house and give them a 20 percent discount on the market rental rate.
"We take those people finding it difficult to get accommodation with the idea that they save up and then go out into the real world," Mr Kelly said.
"It acts as a stepping stone for people to either go out into the rental market or buy their own home."
The scheme targeted people working in professions that don't pay much in the early years, such as teaching, journalism, hairdressing and nursing.
Mr Kelly said My Place Property would proceed once the developer was ready, and that he hoped to get the contract to sell the remaining 80 homes in the village, intended for the over-55 years market.
While in the city to inspect the site, he said he also had a cursory glance at Shorty O'Neil Village after hearing about City Council's decision to close it.
"I saw a lot of the power and water being stretched from house to house. I don't know how they would comply," he said.
"It seemed to be something that needed to be renovated.
"If council was looking at a joint venture or bringing in someone like us, what we would try to do is create more affordable housing.
"Basically, our purpose is to go out there and make as much money as we can to develop new affordable housing and ease rental costs."
My Place Property is owned by Compass Housing, which has the NSW Government contract to manage about 300 houses in the Far West for public housing.