Private equity firm Jameson TTB and ANZ have commissioned Ellis Group Architects to design a $17 million disability housing project located in Melbourne’s south east.
The four-storey complex will provide medium-term accommodation for NDIS participants while they wait for a permanent home to become available, as well as specialist disability accommodation which caters to those with extreme functional impairment or very high support needs.
13 MTA studio apartments and eight two-bedroom and two-bathroom SDA apartments will be included within the building, as well as support offices, communal dining, activity areas and onsite overnight accommodation for nurses.
The entire Australian SDA housing asset class is valued at $2.5 billion. The federal government has committed to providing $700 million a year towards SDA housing payments. Jameson has allocated funding for the project through its $100 million Jameson Special Situations Fund, which invests in a diversified portfolio of hybrid-credit opportunities in social infrastructure sectors.
ANZ plans to invest $10 billion worth of affordable, accessible, and sustainable homes to buy and rent in Australia and New Zealand by 2030.
“We are pleased to continue supporting the NDIS housing sector and work alongside experienced partners in the space to help meet the growing demand,” says Nick Browne, Director of Jameson TTB.
“There is an undersupply of adequate specialist disability housing and the sector has largely been underfunded, with few financial institutions investing in this space.
“It is great to be working with ANZ again to deliver this much-needed housing for the community. Our shared values and goal of providing more disability accommodation comes at an opportune time. The private sector is well-equipped to address the shortfall in the NDIS sector. Locally, our new project will support the existing medical infrastructure in the surrounding area.
“At Jameson TTB, we are committed to providing better housing outcomes and opportunities for those needing specialist disability accommodation. We are excited about our future in funding more NDIS projects and working with more NDIS providers and developers to deliver more housing to address the needs within Australia. The profile of this sector is closely aligned to the ESG values of the firm.
ANZ Head of Health Cindy Arthur says the bank is intent on improving the living conditions of NDIS participants in Australia.
“ANZ is committed to helping improve the availability of accessible housing options for Australians and we’re proud to support a project that will deliver much needed accommodation options for people living with a disability.”
The project is expected to be completed in April 2024.
