29 April 2008
Property developers today welcomed news of a major new affordable housing initiative on a 3.6 hectare site in Glebe, saying that innovation would be crucial to the projects success.
Sydney needs 640,000 new homes to cope with our population growth and changing demographics over the next 25 years, Mr Gadiel said.
Every new housing development gets us a bit closer to this goal.
The Premier and the Lord Mayor should be congratulated for embracing this opportunity to make available under-utilised public land for new housing.
Its an exciting opportunity for new compact pedestrian-friendly neighbourhood within a few hundred metres of a major shopping centre, a university and public bus routes.
This is also a great opportunity for innovative and imaginative development.
The government, the city and the wider community will get the possible outcome through private sector involvement in the development process.
The private sector can deliver the sort of high quality, green housing that the local community is crying out for.
Private sector involvement would help insulate the taxpayers from the risks inherent in developing homes for private sale.
We hope that a private partner is invited to become involved at an early stage and is given the opportunity to participate in the master planning process.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
The NSW development industrys annual turnover is $35 billion and employs 180,000 people, accounting for six percent of the States total employment. It is the fifth largest contributor to the State economy.
Media Enquires:
Aaron Gadiel,
Chief Executive Officer,
Phone: 0417 477 904 or (02) 9238 3955
