$3.4 BILLION RIVERWOOD RENEWAL

$3.4 BILLION RIVERWOOD RENEWAL

Southern Sydney is set to get a new lease on life with a big increase in new social and affordable housing, mixed with private housing, under a plan for Riverwood being delivered by the NSW Government.

“The recent renewal in Washington Park in Riverwood North has demonstrated what can be achieved through creating mixed communities,” said Minister for Family and Community Services and Social Housing Brad Hazzard.

“Because we are boosting social housing and affordable housing on the site we will be able to house more vulnerable families who are on the waiting list.”

The remaining 30.5 hectares of the Riverwood estate is being submitted as a State Significant Precinct (SSP), which will involve planning to identify all types of housing, community amenity, services and infrastructure needed for the local population.

“This new social housing will look and feel like modern private housing and that is a big shift in thinking driven by the NSW Government, “ Mr Hazzard said.

“Redeveloping taxpayer owned land to maximize new social housing with a good mix of private housing to achieve better social outcomes is the priority.

“Conservative estimates tell us we can get at least 1600 new social and affordable homes but there is a lot of planning and community consultation to do before we settle on final figures.”

The redevelopment project could be a potential $3.4 billion injection into the state economy along with the creation of over 500 construction jobs. There is little cost to taxpayers as the  new social housing is paid for by the private development.

Member for Oatley Mark Coure welcomed the Riverwood proposal, which adjoins his electorate and said: “The redevelopment shows the NSW Government’s commitment to deliver more social housing, increase overall housing supply and create jobs.”

Current  residents in social housing will be able to continue to live in Riverwood, in the new housing. It will be two years before any resident will have to temporarily relocate to allow new building works to begin.

Residents, the community and other stakeholders will have their say on the precinct in coming months. It is anticipated that the plans for Riverwood will be placed on public exhibition in March-April 2017.

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