Innovative social enterprise, Homes for Homes, to establish presence in Tasmania
A groundbreaking social enterprise that has raised more than $1m for social and affordable housing initiatives on the mainland is seeking to establish a presence in Tasmania.
Tasmania
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An innovative social enterprise giving property developers and homeowners the opportunity to “pay it forward” and help boost affordable housing supply is preparing to establish a presence in Tasmania.
Started by The Big Issue, Homes for Homes allows property owners to sign a donation deed, which, once processed, lodges a caveat on their property title that will eventually prompt them to donate 0.1 per cent of the sale price when it comes time to sell.
That caveat will then remain on the title forever, unless any future owner decides to remove it.
The contribution is added to a pool of donations used to fund grants for community housing providers to build social and affordable housing projects.
Homes for Homes has so far granted more than $1m to eight organisations across Victoria and the ACT and is now focusing on gaining traction in Tasmania, with national operations manager Tracy Longo set to appear at a public forum hosted by the Hobart City Council on Monday.
Homes for Homes national marketing and partnerships manager Louise Gray said the organisation had $52.5m worth of donations in the pipeline.
“We know that the money is already making a difference in terms of housing people,” she said.
Ms Gray said the independent not-for-profit needed approval from Tasmania’s Land Titles Office before it could lodge caveats on homeowners’ property titles but that Tasmanians could still register their properties with Homes for Homes in the meantime.
“It’s an opportunity to pay it forward to someone who doesn’t have a home at a time when you’re feeling pretty fortunate that you are able to transact property,” she said.
Melbourne-based developer Milieu Property – the preferred developer for the Escarpment project at Macquarie Point – now includes the Homes for Homes clause in all its sales contracts.
“Giving back to the neighbourhoods in which we operate is central to our approach, and we view Homes for Homes as a very tangible way to deliver on our commitment to shaping better cities,” Milieu Property managing director Michael McCormack said.
Hobart Lord Mayor Anna Reynolds said Homes for Homes was a successful model that was “already making a positive impact”.
“Those of us lucky enough to own property can help to grow the funds to build affordable housing projects here in Hobart,” she said.
The Homes for Homes Information Forum will run from 12-1pm at the Hobart Town Hall on Monday, March 28. To RSVP, visit https://www.hobartcity.com.au/Community/Events-and-activities/Upcoming-events/Homes-for-Homes-Information-Forum
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