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- Published: Wednesday, 17 July 2019 13:16
The new National Housing Finance and Investment Corporation (NHFIC) will refinance Bridge Housing’s bank debt and provide funding for more new development, the Assistant Treasurer Michael Sukkar MP announced today.
The Assistant Treasurer announced the NHFIC Round Two funding on a site visit to Bridge Housing’s 158-unit development at Elger St Glebe to see our development program in action.
The interest-only loan will enable Bridge Housing to access cheaper funds for 10 years, to pay out existing bank debt and finance its future acquisition program.
Bridge Housing CEO, John Nicolades said. “The NHFIC financing is a game changer for Bridge Housing. The money we save with lower interest payments means more cash to develop additional social and affordable housing for Australian families struggling in the housing market to access secure and affordable housing,” he said. “We can build upon our portfolio of 3,300 properties.”
NHFIC CEO Nathan Dal Bon, said: “NHFIC is saving CHPs, including Bridge Housing, millions in financing costs and giving them decade-long certainty over their loan facilities. CHPs can use these savings to initiate additional new social and affordable housing projects, including in growth corridors and inner city areas that are among the most challenging when it comes to affordability.