Australia’s “beautiful, naive” Nightingale housing model does not work and the company that set out to develop housing under architect-led projects will be restructured as a more conventional developer.
Nightingale Housing, a social enterprise that licensed its model to a number of architects in Melbourne and around the country, will become a not-for-profit developer that only raises capital from institutions and sophisticated investors, manages its own projects and hires architects to design buildings.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
