As supporters of thriving communities and social housing, we are pleased to announce our role as advisors to the ‘Building Communities’ consortium, which has been engaged once again to work with Homes Victoria to continue delivering social housing through its second Ground Lease Model (GLM)
WT provided Lenders Technical Advisory and Financiers Certification to the Building Communities consortium for the GLM1 project (a first of its kind for Victoria). With construction due for completion in early 2024, this project will have delivered 1,100 new social, affordable and market rental homes.
Once again, our experts will be integral advisors in supporting the building of another 1,370 new homes across South Yarra, Prahran, Hampton East and Port Melbourne under the same model (GLM2). The project will replace 500 outdated dwellings with new social, affordable and market rental homes, including specialist disability accommodation. At the end of a 40-year ground lease, the land and all homes will revert to Homes Victoria.
As trusted ‘technical translators’ for project stakeholders, our expertise in Quantity Surveying, Operations and Maintenance and Independent Certification will ensure that funding is delivered on time, in order to keep the project progressing, by assessing cost, risk and schedule.
Our experience in advising on social housing projects, like GLM, builds on our previous work with The Living Carlton project, (for Citta Property Group and Frasers Property Australia), where we advised on a master-planned, environmentally sustainable redevelopment, integrating both social and private housing.
