Traders in Purple has announced its fifth with the NSW Land and Housing Corporation (LAHC), following the confirmation that the developer will partner with the NSW Government to deliver the next stages of its Bonnyrigg estate development.
The agreement will see Traders In Purple oversee the completion of the Humphries Precinct, which comprises 65 community homes for the LAHC to lease, designed by AJH Architecture, and 210 land lots for private sale, meeting demand for housing in the area.
“We are an active development partner of the NSW Government,” says Traders Director George Geagea. “The Bonnyrigg project gives us an opportunity to build on that relationship of trust and transparency, creating a community that breaks down social housing stigma.
“At Bonnyrigg we will not only provide modern and sustainable social homes but also a land subdivision that will satisfy the demand for private buyers seeking to build their own home.
“Increasing supply is critical to tackling affordability and Bonnyrigg is severely constrained. There are very few built homes available on the market and no vacant land, increasing the cost to purchase and rent.
“The introduction of 210 land lots will assist the market and satisfy the pent-up demand from buyers who have grown up in the area and want to remain local to raise their own families, close to social and cultural networks.”
St George Community Housing will manage the 65 homes, with Traders In Purple to deliver a junior play park and make a financial contribution to NSW Land and Housing Corporation in order to assist in funding further social and affordable housing precincts.
Demolition works are already underway, with development approval expected to come in the coming weeks. Traders In Purple’s portfolio extends to the NSW south coast at Northsea, a mixed-tenure project 250 metres from Wollongong Beach created in partnership with LAHC.
Geagea says the developer has worked with a number of state and local government entities that has assisted in its ability to win tenders for projects akin to Bonnyrigg.
“What we offer our partners is the capability and experience of a large developer with the agility of a privately owned company that can make decisions quickly and respond to the market,” he says.
“We are an efficient organisation which means we deliver a quality product without excessive feetaking and costs. This translates to a better outcome for our partners looking to maximise value and returns.
“Traders In Purple has a genuine desire to create inclusive communities and our community housing projects present an opportunity to express the philanthropic side of the business.”
