The Not For Profit has opened the doors on its new Narralling Community at Elderslie, 50km southwest of the Sydney CBD.
The development, which consists of 122 villas and townhouses for seniors and single parents, is the latest milestone in the NSW Government’s $1.1 billion Social and Affordable Housing Fund (SAHF) and offers rents set at 75% of the market rate.
Applicants aged over 55 years will be able to access one-bedroom villas for $247 per week, but they still have to be active in the workforce and earning a low to moderate income.
Two-bedroom townhouses are also available for single parents for $277 per week, but they also have to be earning a low to moderate income and have no more than two children living with them.
Residents will also have the option to take out a small, interest free loan, which can be used for a range of things including household items and medical costs.
The model clearly has appeal – BaptistCare tells us that as of 8 December, the community was 61% full.
The provider will deliver 500 homes as part of the SAHF.
