Public Housing Renewal Program
The Ontoit team were the transaction managers for the Public Housing Renewal Program (PHRP).
Under the PHRP a large number of public housing estates that have aged and are no longer fit for purpose are being redeveloped to be environmentally and socially responsive communities with improved facilities to promote community interaction.
Located in inner and suburban Melbourne, the PHRP replaces existing public housing dwellings by increasing public housing dwellings and adding affordable and private dwellings. With insufficient funding to redevelop significant volumes of public housing under traditional direct approaches like Design and Construct or Construct Only, other methods of commercial structuring and value capture have been developed, for example a ground lease procurement approach.
Ontoit provided strategic and commercial advisory services, transaction management and project management for the PHRP.
We focused on a ground lease procurement approach (similar to a PPP) to secure partnerships for Homes Victoria to redevelop and also operate a package of the PHRP sites, including leading the inputs from other SME consultants including legal, financial, cost and facilities management.
We informed a tenant relocation strategy as well as a broader housing supply management strategy and implementation plan that assisted Homes Victoria to manage the transition of existing tenants and ensuring minimum housing numbers were maintained.