Affordable housing project

Apartments located at 4 Merewether Street, Newcastle NSW

AFFORDABLE HOUSING PROJECT COMPLETED IN NEWCASTLE

A new apartment complex in the Newcastle CBD was opened by Evolve Housing in mid-2020 and is now providing affordable housing for locals on low-tomoderate incomes.

The property, located at 4 Merewether Street Newcastle, includes 30 residential apartments dedicated for affordable rental housing and is able to accommodate up to 78 people.

The land was purchased from the Hunter and Central Coast Development Corporation (HCCDC) in February 2019, after Evolve Housing won the tender to deliver the project in 2018. The City of Newcastle granted development consent in December 2018.

The complex includes one, two and three bedroom apartments, with four being set aside for Specialist Disability Accommodation. Apartments are being rented out at a rate that is 25% below the normal

market rent that would be charged for an equivalent property. This apartment block is managed by Evolve Housing’s profit-for-purpose real estate agency, EchoRealty.

Construction completed in June 2020, and EchoRealty has since found tenants for all 30 apartments. Evolve Housing CEO Lyall Gorman said that he was excited that the construction was completed on time, within budget and to a high quality.

“These apartments are modern, well-designed and of a very high quality, and I have no doubt that they will make wonderful homes for the tenants who live here.