A block of land owned by the Territory Government in Casuarina Drive, Katherine East along with $2 million in capital grant funding will be provided to Venture Housing to build a new affordable housing complex for the town. This joint investment from NTG and Venture Housing will deliver eight new energy efficient homes in Katherine for rent by key workers and their families, as well as generate economic stimulus during and after the construction.
Sixteen new houses will be built in Katherine to help alleviate the town’s housing shortage as the Territory Labor Government invests $4 million in social and affordable housing.
Katherine is experiencing a housing shortage due to a booming local economy, with large construction projects in train, including a new recycling plant, cotton gin and growing tourism and agriculture industries.
Eight new social housing properties will be built in Katherine with the homes ranging in size from one bedroom to three bedrooms. Land has already been identified for these builds with construction tenders to be released soon.
The Territory Labor Government has also partnered with Venture Housing to build eight affordable homes in Katherine.
A block of land owned by the Territory Government in Casuarina Drive, Katherine East along with $2 million in capital grant funding will be provided to Venture Housing to build a new affordable housing complex for the town.
Venture Holdings will manage the development, construction and tenancy management of the project, which will include a mix of two-three bedroom homes and include energy efficient features to optimize utility cost savings for tenants.
Executive Officer of NT Shelter, Peter McMillan, said it was great to see new housing for Katherine.
“While there is a long way to go to meet our social and affordable housing needs across the Territory, it is great to see new housing announced for Katherine,” he said.
“It’s also encouraging to see new approaches being taken to provide more Territorians with access to housing at rents they can afford,” Mr McMillan said.
“The Katherine region has so much social and economic potential. It’s vital that a lack of housing doesn’t hold the Territory back. This will require ongoing housing investment such as this to ensure that all Territorians, as well as new arrivals, have access to housing that they can afford.”
Venture Housing Company CEO Karen Walsh said they were pleased to be partnering with the government to increase housing opportunities in the Territory.
“This joint investment from NTG and Venture Housing will deliver eight new energy efficient homes in Katherine for rent by key workers and their families, as well as generate economic stimulus during and after the construction,” Ms Walsh said.
“Thriving communities depend on viable businesses and key workers. These funded initiatives aim to ensure that access to affordable rental housing is not a barrier to businesses attracting key workers.
“This much needed capital investment, as well as the Rent Choice Subsidy Scheme will make an impact. Venture is committed to delivering social and economic outcomes – and safe, secure, affordable housing are critical to making this happen.”
Another aspect of the Territory Government’s investment in affordable housing will include a $3 million private rental subsidy scheme for eligible key workers on low to medium incomes, including Katherine residents.
The scheme is in the final stages of development and due to be implemented in March. It will include a rental subsidy range of $6,000 – $12,000 per annum, with an estimated average support of $10,000 per tenant per annum.
Minister for Territory Families and Urban Housing, Kate Worden said good housing creates better communities.
“We have a vision for our housing sector and we are reforming the way it operates,” Ms Worden said.
“Katherine is an integral service hub in the Territory. Building more homes will mean greater support for our workforce, making sure more people call Katherine home.
“The rental subsidy will assist our low to medium income owners be able to afford a rental property of their own, which means they can continue working and sending their children to school, without having to worry about needing to move again.
“Securing affordable homes that are ready to go will benefit our economy, by attracting more workers to help industry grow and keep business ticking over and unlocking.”
This funding comes from the Territory Governments $21 million housing boost which was announced in December 2021.