SA Government puts new $70M BTR project out to tender

South Australia is the latest state Government to turn to Build To Rent as a solution for housing availability, with the announcement of a $70 million development in Adelaide’s city fringe. The former Park Court public housing site in Eastwood will become at least 130 apartments, 30 to 50 of which will be allocated to social housing with the rest to be rented out at 25% below market rate. According to SA’s Human Services Minister Nat Cook (pictured), the project – funded by both state and Commonwealth agencies – will help address rental pressures in Adelaide.

“This project is an outstanding example of what we can achieve when the state and federal governments work together with community housing providers. “The project will deliver between 30 and 50 social housing homes that will help people with the greatest needs and the lowest incomes – while also providing affordable rentals for key workers so they can live closer to where they work,” she said.

The SA Government says the site is “shovel-ready”, and expects to finalise the decision of a community housing provider in early 2023. State and Territory Governments have increasingly looked to BTR as a means of solving housing issues in recent months, including NSW, WA, and the ACT. The model – which involves apartments being rented directly from the developer instead of from individual landlords – poses a challenge to traditional retirement villages, and may entice Baby Boomers with the promise of comparable services and no ingoing fees.