Local social housing firms receive $4M to tackle rough sleeping

A Pacific Link project under construction in the Tuggerah region

Two social housing providers based on the Central Coast are set to receive a significant share of the NSW Government’s $36M Together Home initiative, with Compass Housing Services and Pacific Link Housing set to receive more than $4M between them.

Parliamentary Secretary for the Central Coast and Member for Terrigal, Adam Crouch, said Together Home will provide stable housing plus wrap-around support for rough sleepers.

“This is the largest single investment made to tackle rough sleeping in NSW history,” Crouch said.

“Compass Housing Services will receive $2,155,568 and Pacific Link Housing will receive $1,958,223.

“Throughout COVID-19 the NSW Government has worked hard to help people experiencing homelessness [and] now we’re working to get them into homes with the support they need to rebuild their lives.”

Member of the Legislative Council, Taylor Martin, said Together Home is about more than addressing homelessness.

“The package of support is designed to help get people off the streets for good,” Martin said.

“It will provide access to the services people need to maintain their tenancy, improve their health and wellbeing and move towards training and employment.”

Together Home is a partnership between the NSW Government, community housing providers (CHPs) like Compass Housing Services and Pacific Link Housing, specialist homelessness services, and health services.

Pacific Link Housing has also secured a $4M loan to build more social and affordable housing across its footprint on the Coast and in Newcastle, Lake Macquarie and the Hunter region.

The National Housing Finance and Investment Corporation (NHFIC) has finalised its third bond of $562M – the largest social bond by an Australian issuer.

The funds raised from the NHFIC bond will support Pacific Link and nine other CHPs nationally, financing 2,736 properties including 775 new dwellings.

NHFIC CEO Nathan Dal Bon said it was pleasing to see strong support from domestic and international investors for the community housing sector.

“These funds will be channelled directly to community housing providers to support Australians most in need at such a challenging time,” he said.

Pacific Link Housing Chairman Wal Edgell said receiving the NHFIC financing is a milestone in the organisation’s 35 year history and will provide a significant boost to the provision of affordable housing.

‘’The low-cost debt finance is aligned to the unwavering strategic intent of Pacific Link Housing to develop sustainable, safe and affordable housing for those in greatest need,’’ Edgell said.

CEO, Ian Lynch, said the loan will also help to create jobs in the building industry, with a significant number of consultants, trades and subtrades required to deliver the housing developments in prospect.

“This increased investment towards social and affordable housing is timely, particularly with the number of Australians impacted by job losses as a result of COVID-19,” he said.

Pacific Link Housing manages close to 1,100 properties across the Central Coast, Newcastle, Lake Macquarie and Hunter regions.

To date, it has developed 82 housing units, with 42 more one and two-bedroom units in progress on the Central Coast, twelve located on the Peninsula and 30 in the Tuggerah Lakes area.

Source:
Media release, Jun 29
Pacific Link
Media release, Jun 30
Parliamentary Secretary for the Central Coast, Adam Crouch

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