Government Unveils Hopeful Future with with the Release of Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF)
In a landmark move aimed at addressing the national housing crisis, the first tender for the federal government’s Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF) is now open. The core objective of these programs is to finance new, high quality and well located social and affordable housing to address the current national housing crisis.
The tender, administered by Housing Australia, is open to eligible entities interested in undertaking social and affordable housing projects across the nation.
The HAFFF and NHAF programs provide opportunities for developers and builders to collaborate with the community housing sector, institution investors and government entities to deliver social, affordable, and mixed housing projects.
Over the next five years, the HAFFF aims to facilitate the delivery of 30,000 social and affordable homes, while the NHAF is set to support the construction of 10,000 affordable homes. Over this 5 year period, it is anticipated that there will be multiple HAFFF and NHAF funding rounds.
Who is eligible to apply?
Entities eligible to apply, include:
Registered community housing providers and registered charities
Local, state, and territory government bodies and government owned corporations
Charitable entities who have a primary purpose of improving housing outcomes for indigenous Australians or for current or former members of the Australian Defence Force
Consortia or special purpose vehicles whose purpose is to increase social and/or affordable housing where at least one member is one of the entities mentioned above. The other members do not need to be eligible entities, and therefore can include developers, investors, financiers, and other entities from the private, not-for-profit and non-government sectors.
What type of projects?
Eligible projects cover the construction or purchase of new homes, renovation of existing residential uninhabitable dwellings, or conversion of non-residential properties to residential dwellings.
Tenders for this First Funding Round close on 2.00pm Australian Eastern Daylight Time on 22 March 2024.
At Harwood Andrews, we have an experienced team of lawyers who work with private developers, builders, not-for-profits, financiers and investors. We also have specific experience in successfully partnering with community housing providers to secure funding for affordable and social housing projects. If you are looking into or considering tendering for first round funding, please contact our property and business law team:
Briget O’Callaghan
Principal Lawyer
T 03 5225 5244 | M 0436 456 144
E bocallaghan@ha.legal
Evelyn Zeglinas
Associate
T 03 5225 5245
E ezeglinas@ha.legal
