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Published: Tuesday, 26 November 2019 12:57

Bridge Housing has purchased a block of 10 studio units in Marrickville, which will help to provide much-needed housing for lower income families in Sydney’s Inner West LGA. 

The 1960s two-storey block will be settled in early December and refurbished before being offered to social housing tenants in 2020.

This is the latest purchase in Bridge Housing’s highly successful acquisition strategy, made possible by its healthy financial position and the slightly subdued property market.

We used $3.5m of a $51m loan from the National Housing Finance and Investment Corporation (NHFIC) and the transfer of 10 rental subsidies worth $150,000 a year from the NSW Government's Community Housing Leasing Program to finance the purchase. 

The Inner West Council has prioritised social and affordable housing supply in its Local Strategic Planning Statement, which provides for 15% affordable housing in all new housing developments, and in its Local Housing Strategy.