Great to see movement towards residential development starting to occur next to Arden Station by Novus.
Novus Plots 250-Home BtR Tower at North Melbourne | The Urban Developer
The application is being made under Victorian Planning Scheme clause 53.23. This sets an obligation for a commitment to 10% affordable housing (or agreed alternatives). This means households on lower to moderate incomes will benefit from quality new housing that is close to transport and services – supporting productivity of our city and economic and wellbeing benefits for residents.
It was great to work with the landowner to prepare the required strategy report as part of the permit lodgment. This included considering how implementation will meet both planning and Federal Government Managed Investment Scheme (MIT) obligations for affordable housing. The later enables the landowner to access tax concessions for the affordable housing provision. Making sure discounts, income limits and tenant eligibility are all aligned across both programs is critical to ensure compliance – or risk penalties.
We have now worked with a number of developers on BTR projects that propose affordable housing, bringing our sector knowledge and skills to develop site-specific strategies. We welcome the opportunity to be part of this exciting and new area to suppport affordable housing growth.
‘I grew up next to a train station and I always saw it as a nexus point of different communities coming together.’ – Abdul Abdullah, artist for major works outside Arden Station
