Housing Diversity for Docklands

Minister for Housing officially commemorates start of construction on The Merchant, at Victoria Harbour

The Minister for Housing has officially commemorated start of construction of The Merchant at Victoria Harbour, the first project at Docklands’ to incorporate an affordable rental housing initiative.

Maurice Cococcia, Victorian General Manager for Lend Lease Developments said the project is also a first for Melbourne with a private developer partnering with an Affordable Housing agency to deliver an initiative such as this in an inner urban environment. “This is a major milestone not only for the project but for Victoria Harbour and Docklands as a whole,” he said.

The Merchant will have three out of the eight floors of apartments sold to Melbourne Affordable Housing (MAH) to utilise as housing for key workers and others in employment, education or training schemes at Docklands.

This will enable people in the service industries or doing further study and training to be able to afford to live closer to their work. In turn, this will ensure they remain in the industries which our cities depend.

Melbourne Affordable Housing Chairperson, Simon Moore reinforced that social and economic commentators all agree that diverse communities are healthy communities.

“Diversity of population and experience enhance the social, cultural and economic vitality of the area and help create a sense of community. It further encourages the growth of infrastructure and services that will
support the community both now and into the long term,” he said.
Acting CEO of VicUrban Dominic Arcaro said The Merchant is in line with VicUrban’s vision to develop Docklands into a sustainable, mixed-use community with a diverse selection of residential options. “Housing affordability is a key objective of VicUrban’s and as such, it supports any project which embraces Key Worker Housing initiatives,” he said.

The Merchant comprises 133 apartments with MAH purchasing 57 units. The building itself is designed by Hayball Architects and the four floors on sale to the general public are almost all sold due to its high quality and great location.

The project proudly brings together Melbourne Affordable Housing, Lend Lease, the Victorian Government (through the Office of Housing and Victorian Property Fund), VicUrban, and the NAB. The project is scheduled to be completed by the end of 2009.

FACT SHEET

Small business at Docklands has indicated that a lack of skilled staff was a barrier that limited growth. With most of these industries being in the hospitality (53%), retail (19%) and cultural/recreation services (12%), the shortage can be directly apportioned to the lack of housing affordability on the grounds that these industries primarily offer casual or part-time employment.

The target group for the proposed Victoria Harbour project therefore focuses on these low-income and modest income households, ‘key workers’, requiring ready access to the inner Melbourne area who require accommodation close to their area of work.

Target Group

Key workers are targeted for The Merchant project. Anyone can apply to rent the apartments and they will be assessed on a number of criteria which includes:
• being employed in the inner metropolitan area of the Melbourne labour market; or seeking access to it including connections with the community / local area;
• having a single household income of around $38,000 or less, and around $64,000 or less for a dual income household type;
• having the ability to pay rent while not spending more than 25 - 30% of their income on this rent.

Most importantly Melbourne Affordable Housing wants to ensure that each applicant can be independent and able to sustain their tenancy for the long term.