In an era when a global housing crisis demands leadership from national government, it seems reasonable to expect that local government would be one hundred and ten percent onside, prepared to invest substantially to support its vital labor resources before they are pushed out onto the street, or forced to move away to cheaper localities.
But Sydney apparently wants to bag the big bucks from a premium market-rate sale of the scarce land it owns. A more affordable-friendly option: discounting or actually contributing the land in exchange for a significant affordable housing development. However, that kind of thinking seems right off the table.
With Sydney trying to both have its cake — a significant affordable housing development, while eating it — charging a premium price for the land, it has done no better than an anemic offer of 10% of the residential units to be delivered at affordable rents for 10 years.
Local critics and housing activists are far from amused. Read more at THE FIFTH ESTATE: Landcom to deliver affordable housing, but targets could be more ambitious
