Developer Assemble, tier-one community housing provider Housing Choices Australia and specialist industry super fund and capital partner HESTA, joined by the Federal Minister for Housing Honourable Clare O’Neil MP and other development partners, celebrated the official opening of the Swift Walk Build to Rent scheme.
The development is supported by Housing Australia Future Fund Facility (HAFFF) funding provided by Housing Australia.
With investment from HESTA and delivered and managed through a strategic partnership between Assemble and Housing Choices Australia, the development comprises 362 one-, two- and three-bedroom apartments across five buildings, including 272 affordable and social homes, alongside publicly accessible green spaces, a supermarket and complementary retail spaces at ground level.
“The opening of our first Build to Rent asset is a significant milestone, creating hundreds of new social and affordable homes.
“Boosting housing supply is one of Australia’s biggest challenges and long-term investors like HESTA – working with partners like Assemble and Housing Choices Australia – can be part of the solution.
“We are committed to delivering strong long-term returns for our members while helping address an issue that greatly impacts them, with many of our members providing critical services and needing affordable housing near work.”
Debby Blakey, CEO, HESTA
Whilst social and affordable housing was always included in the scheme, the award of HAFFF funding by Housing Australia in September 2024 made it possible to increase the number of social and affordable homes.
In addition to HAFFF funding, Swift Walk is supported by debt funding from ANZ and Treasury Corporation of Victoria.
Swift Walk offers secure, professionally managed rental homes for a diversity of residents including young, old, singles, families and retirees, and for a spectrum of household incomes including essential workers such as nurses, aged-care workers and early childhood educators who need affordable housing close to work.
Swift Walk is within walking distance of transport, employment hubs and major hospitals. Amenities include co-working space, multipurpose spaces, a gym, workshop, rooftop BBQ areas, communal laundries and other shared amenity areas throughout.
“Swift Walk demonstrates that with the right policy settings, there is institutional investor appetite to invest in housing, including appropriately managed social and affordable housing.
“The combination of HESTA’s leadership, the Australian Government’s HAFFF program, and Assemble’s innovative partnership with Housing Choices Australia mean that high quality mixed tenure rental homes can be delivered at scale — and in locations near public transport, jobs and daily amenity.”
Carolyn Viney, CEO, Assemble
The buildings will be managed by Assemble in partnership with Housing Choices Australia in close collaboration with specialist community housing provider Aboriginal Housing Victoria, ensuring that the homes provide security and long-term stability for all residents.
The scheme demonstrates a new model for delivery of large-scale social and affordable housing bringing together Government, institutional investors and community housing expertise to deliver much-needed housing for Australians on lower and middle incomes.
Swift Walk is one of the many housing assets Assemble intends to deliver as part of its strategy to deliver 17,000 homes – including social and affordable homes delivered in partnership with Housing Choices Australia and other community housing providers – and manage $15bn in housing assets by 2034.
