Did you know that the allocation for social and affordable housing at the $3-billion Waterloo Estate renewal project will be increased to 50 percent, from the previously planned 34 per cent? At least 15 per cent of the housing units will be dedicated to First Nations peoples.
Under the proposed renewal, a consortium of developers will transform the Waterloo Estate into a modern urban space featuring over 3,000 residences, along with commercial and community facilities. The consortium is set to be announced in 2024.
Plans Outlined
The Waterloo Estate initiative intends to replace the subpar living conditions currently experienced by tenants in Sydney’s inner-south suburb, offering them improved and more suitable housing options.
The redevelopment project comes in the wake of the escalating housing crisis, with more than 51,000 individuals languishing on the public housing waiting list in New South Wales.
Premier Chris Minns highlighted the urgency of addressing the substantial backlog of housing demand and emphasized the significance of this model for future urban development across Sydney.
Housing Minister Rose Jackson addressed concerns that increasing the affordable housing requirement might discourage private investment. She assured that the government had received positive feedback from potential partners who understood the administration’s priority to bolster social and affordable housing options.
- “We are increasing the % of social and affordable homes at Waterloo South from 34% to 50%. That is a big increase – it means 500 hundred more homes for people who need them & 700 more than is currently at the site.
- 15% of these homes will be dedicated to Aboriginal people, helping FN folks stay on country.
- We will build quality, accessible and sustainable homes that will last and be comfortable, safe places to live.
- All residents will have a right to return (something they weren’t guaranteed before) – we are also improving comms with letters, texts, calls and an on-site connect office.
- All residents will also be temporarily homed nearby so they stay in their community near support systems.
- We are also rejecting the old broken system of concentrating poor and disadvantaged people in massive towers and estates. No more shoving people off to the side. Mixed tenure is internationally recognised as the best model to deliver the best outcomes for residents and great communities for our cities.”
Some Residents Oppose Demolition
However, not all residents are fully on board with the redevelopment plans. Some long-term residents of the existing housing estate have expressed opposition to the demolition of their homes and the planned changes.
Karyn Brown, a resident of the Waterloo Estate since 1999, asserted that her unit was in good condition and contested the idea that the buildings were beyond repair. Whilst acknowledging the necessity of housing improvements, Ms Brown and other residents were cautious about the transition to new housing and the management changes that might accompany it.
Local MP Ron Hoenig’s comments about the deteriorating conditions of the current buildings and the need for renewal faced backlash from residents who felt their living conditions were being unfairly characterized as “squalor.”
Whilst debates and concerns persist among residents, the overarching goal of alleviating housing shortages and improving living conditions remains a central focus of the initiative. The government plans to continue working with consortium partners to finalize details and move the project forward in the coming months.
The NSW Government’s commitment to addressing the housing crisis through the Waterloo Estate renewal project is a significant step toward providing better housing opportunities for the community.
Published 23-Aug-2023