Affordable housing for essential workers available in new Miranda development

The development will help frontline workers, who have given so much during the pandemic, to combat the rise of rental prices. Check out interior photos of the stylish units.

Essential workers in the Sutherland Shire will have a more affordable option to get into the rental market with a newly-constructed apartment complex in Miranda.

Aware Super has unveiled an affordable housing development in Miranda which will provide rental relief to the frontline heroes who have kept the city running amid the Covid pandemic.

The scheme is designed to help frontline workers combat the rise of rental prices which risks pushing them into poorer quality accommodation further away from their workplaces.

New tenant and psychologist Daniel Jones was intrigued by the good location being close to Westfield and to Sutherland Hospital, and affordable price. Picture: Supplied

One tenant Daniel Jones was excited to live close to where he worked as a psychologist.

“I would have to move regionally to be able to save for my own house,” he said.

“The Aware Super Essential Workers Program is really important.

“There is going to be a huge gap in Sydney of essential workers if programs like this don’t continue to pop up and exist.

“It is cheaper to live in regional towns and there is work there for essential workers.”

The interior of the units are stylish and modern. Picture: Supplied

Mr Jones said the Miranda development on the Kingsway was a good location for him because it was close to Westfield and to Sutherland Hospital, and gave him easy access to services.

The project that began in July 2019 consists of 102 apartments across two buildings.

Fifty-one of the build-to-rent units have been reserved as affordable housing and made available to defined essential workers at 80 per cent of the market rate for the area.

The remaining units will be were available to purchase from developer, Altis Property.

With healthcare and social assistance workers earning an average of $1057 per week, and those in education $1250, some essential workers would have to fork out almost half their wage to be able to afford the median Sydney rental price of $500, according to ABS and Domain reports.

Aware Super launched its newest affordable housing development for essential workers in Miranda, providing rental relief to the frontline heroes. Picture: Supplied

The discounted rental model provides practical cost of living relief for essential workers – including teachers, nurses, healthcare workers, aged care employees, police, emergency services, childcare workers and those who work in associated industries - who have given so much during the pandemic.

Aware Super executive officer Deanne Stewart said Australia was facing a housing affordability crisis and super funds could play a critical role in helping to address the nation’s housing affordability crisis, at the same time as delivering strong, long-term returns for members.

“It’s a painful reality that many of the frontline workers who have kept the country running throughout the pandemic are struggling to find a safe and affordable place to live, close to where they work,” Ms Stewart said.

“Australians who are passionate about doing the kind of work that supports our communities deserve to be supported to live, and retire, in the communities where they work.

Aware senior portfolio manager Alex Misev wanted to great a safe and affordable options for essential workers. Picture: Supplied

“Essential workers should not be forced to make the trade-off between living in housing that is either of a poorer quality or a long commute to their place of work.

“Aware Super is determined to be part of Australia’s housing affordability solution by investing in projects and businesses that are sustainable, create jobs, foster innovation and contribute to the communities where our members live, work and retire.”

Ms Stewart said the Miranda Meridian project was the super fund’s first built-to-rent affordable housing development in Australia aimed to increase the supply, provide quality, affordable rentals for essential workers, while delivering top performance to members.

She said “location was everything” because the development had to be close to work, affordable and safe.

Fifty-one of the build-to-rent units have been reserved as affordable housing and made available to defined essential workers at 80 per cent of the market rate for the area. Picture: Supplied

“Additionally, the expertise we’ve developed through this project has set us up for more projects of this type across Australia – in Liverpool and Zetland in New South Wales, inner Melbourne and Preston in Victoria and Burswood in Western Australia,” said Ms Stewart.

Aware Super’s affordable housing portfolio is now projected to reach $1.5 billion on completion, marking the largest investment in Australia’s build-to-rent sector by any institutional investor.