Property Buzz

Hot property

Lakewood’s $12.4 million makeover: A blueprint for social housing relief


The recent unveiling of the refurbished Lakewood Housing Co-operative in Melbourne’s eastern suburbs has been celebrated as a significant step towards addressing Australia’s critical shortage of social housing. This redevelopment project, jointly funded by the Federal Government and Common Equity Housing Ltd (CEHL), Australia’s largest co-operative housing provider, includes 80 newly refurbished units aimed at providing renters with secure and affordable accommodation.

Melina Morrison, the chief executive of the Business Council of Co-operatives and Mutuals (BCCM), sees the project as evidence of the co-operative housing sector’s potential to contribute significantly to alleviating the affordable housing crisis. “This model demonstrates how the co-operative housing sector can collaborate to help alleviate the affordability crisis,” Morrison stated. In the co-operative housing model, residents not only enjoy affordable rent but also share the responsibility of managing and maintaining their homes, fostering a sense of community and enhancing their housing security. Residents also develop transferable skills through this shared responsibility.

The refurbishment faced challenges, including construction delays due to the Covid pandemic, which forced residents to move to temporary accommodation across Melbourne. Liz Thomas, Managing Director of CEHL, highlighted the integral role of Housing Australia in overcoming these obstacles over the past six years. “Today we celebrate the resilience and determination of the Lakewood community to retain their co-op identity and return to their homes, which now offer much improved amenities and functionality,” Thomas remarked, emphasizing the community housing sector’s focus on delivering permanent housing solutions rather than short-term financial gains.

This model demonstrates how the co-operative housing sector can collaborate to help alleviate the affordability crisis. Melina Morrison

The successful reopening of Lakewood is seen as a testament to the potential of co-operative housing to offer solutions that are scalable, affordable, and community-focused. Morrison expressed hope that the Lakewood model would be replicated to help address the broader affordable housing crisis in Australia.

The Federal Minister for Housing, Julie Collins, acknowledged the importance of collaborative efforts between the government and the community in providing safe and affordable housing. “Forging partnerships is critical to ensuring more Australians have a safe and affordable place to call home,” Collins said. She also referenced the Albanese Labor Government’s commitment to housing through investments including the $10 billion Housing Australian Future Fund and the $2 billion Social Housing Accelerator. These investments are aimed at constructing 30,000 new social and affordable homes over the next five years, marking a historic effort to increase housing accessibility for Australians.

Previous post
Next post
Leave a Reply

Your email address will not be published. Required fields are marked *