The ACT Government is pushing Build to Rent as a solution for housing availability, including supporting projects on nominated sites as part of a land release program.
Announced as part of this year’s ACT Budget, the plan will see a block in Turner, close to central Canberra, released for a pilot project with an affordable rental component, with potential further land releases in the pipeline.
Financial incentives such as tax breaks, duty concessions, and grants may also be in the offing, according to the ACT’s Build to Rent Investment Prospectus.
ACT Chief Minister Andrew Barr (pictured right) said that his Government would be working with the new Federal Labor Government to increase supply across the private, affordable, community, and public housing sectors.
“The ACT Government has been building more affordable homes per capita than the national average,” he said.
“We want to see more Build to Rent projects in the ACT, and the Government will be pursuing private investment into these projects over the coming years.”
Site owners have recently sought investment for a Build to Rent project at Dickson, in Canberra’s inner north.