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Key To Unlock Affordable Housing

Key To Unlocking Affordable Housing

A proposed Affordable Housing Register is being touted as a possible solution to unlocking “hundreds of millions” of dollars of private investment into affordable housing.Platform founder, Rob Pradolin, says it will provide a verifiable way for individuals to own and lease units for qualifying key workers at below-market rents, widening the pool of money in affordable housing beyond institutions and community housing providers. He says it unlocks private sector capital by letting developers sell to their investor database an affordable home which will be monitored for 30 years by the register.

Industry will be able to see where affordable housing is located, which Pradolin says is information currently held on disparate spreadsheets held by individual local authorities. PEXA CEO Glenn King says the lack of affordable housing is a societal problem that requires collaboration between business and the public sector. Pradolin says by unlocking private sector capital, we can offer affordable housing for essential workers that is closer to their workplaces, strengthening our local communities.

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