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Developer seeks to reduce affordable housing from 60% to 20% in two Victoria projects, citing market shifts.
Developer Assemble Communities is seeking to cut affordable housing commitments at two Victoria projects in Brunswick and Coburg, reducing the share from 60% to 20% just before completion.
The change, citing shifting market conditions, would allow 80% of units to be sold at market rates, with the remaining 20% offered at a 25% discount for 10 years.
The request, under review by the state’s Department of Transport and Planning, has not been publicly listed, raising concerns about transparency.
Critics say the move undermines affordability promises and reflects a pattern of developers scaling back pledges after securing fast-track approvals.
The final decision may be made by department staff or referred to Planning Minister Sonya Kilkenny.
El desarrollador busca reducir la vivienda asequible de 60% a 20% en dos proyectos de Victoria, citando cambios en el mercado.