The refurbishment of the Wade Street Towers in Telopea, New South Wales (NSW), known as ‘The Three Sisters’, has begun, marking a move to repurpose nearly 150 vacant public housing units.
Previously set for demolition, these units are now being revitalised as part of the NSW Government’s effort to address housing needs within the Australian state.
Go deeper with GlobalData
The project’s initiation coincides with the one-year anniversary of Homes NSW, an agency established by the NSW Government to centralise the management of public homes and tenants and to repair a reportedly fragmented public housing system.
The refurbishment announcement comes following the termination of the “dud-deal” partnership by the government with Frasers, a property group, last October, which would have resulted in the demolition and privatisation of the towers, leading to increased costs and delays.
The completion of the refurbishment project is expected to provide housing for approximately 240 residents for the next five to ten years while long-term renewal plans for the area are developed.
The refurbishment of the 148 units at Wade Street Towers is anticipated to be completed by the end of the year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThis initiative is part of the broader A$6.6bn ($4.14bn) ‘Building Homes for NSW Programme’, which aims to construct up to 30,000 homes in addition to 8,400 public homes within the state.
NSW Minister for Housing and Homelessness Rose Jackson said: “Last year we put an end to the Liberal/National’s dud-deal which left the future of Telopea at a standstill and nearly 150 homes sitting empty in the middle of a housing crisis. This is a common-sense practical approach to help tackle the housing crisis and get homes built quickly.”
“We have taken more action in one year than the former [state] government made in 12 years. Getting people in safe, modern homes is what we are focused on.
“This project is an opportunity to reaffirm our commitment to put people back at the heart of housing and rebuild our state’s public and affordable housing system.”
Last month, the NSW Housing Delivery Authority began accepting expressions of interest for large-scale housing developments and received nearly 100 proposals within the first three weeks of operation.
