Construction will start on nine new townhouses in Maitland’s CBD next year as part of the city’s continued transformation.
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Within view of Maitland Library, the project will provide more affordable housing for working tenants.
Maitland City Council approved the plans for Little Hunter Street, behind what was Hunter Irrigation, last year.
The plan appeared abandoned with no action a year on, but the property was listed for sale three months ago with Tony Cant Real Estate.
After a significant number of inquiries, the Maitland Newcastle Catholic Diocese snapped up the 1200 square metre lot for $410,000 (excluding GST) and will act on the plans in March.
“It’s good value, particularly with the [development approval] in place,” diocese strategic assets and development manager Boyd McCallum said.
The diocese will rent the townhouses through the National Rental Affordability Scheme, which gives suitable tenants a 20 per cent discount.
The scheme conditions mean the discount is cancelled if that person’s income exceeds the threshold for that year and must vacate if that remains the case for a second year.
For a single parent with one child the threshold is $65,423.
The diocese has already built similar units in Mayfield and as an approved supplier of NRAS housing was looking for another project that might help raise money for the St John’s Chapel restoration.
“We’re not necessarily looking at it from a financial point of view, but as part of our outreach program,” diocese administration vice-chancellor Sean Scanlon said.
“The $60 or $80 they will save on rent will mean they can buy school shoes or tickets to the movies.
“The tenants might be firefighters, police officers or paramedics, but whoever they are they have to be working people.”
The diocese was at pains to point out it would not develop the property using cash.
Instead a loan from a Catholic development fund was issued.
The townhouses are two bedrooms each with a study and a two car garage on ground level.
For flood reasons all bedrooms will be on the first floor.
Maitland City Council’s considered approval of such projects recently resulted in the construction of 36 units under the NRAS scheme on Steam Street.
Work is also well underway on The Levee project which aims to turn High Street into a premier outdoor shopping destination with views of the Hunter River.
“[The sale] is a vote of confidence with the upgrade of the Maitland mall and the unit developments we’ve seen around Maitland,” Tony Cant property consultant Kurt Rothwell said.
“We had 25 or 30 inquiries from across NSW when we might normally get 10.”