Hall & Wilcox has advised Victorian community housing provider HousingFirst on an innovative funding agreement that will deliver more social and affordable homes in Victoria.
The funding is provided by the National Housing Finance and Investment Corporation (NHFIC) through its National Housing Infrastructure Facility (NHIF). Under the deal, HousingFirst can access $18 million in NHFIC loans and grants for infrastructure works.
This is the first agreement of its kind struck under the NHIF with a Victorian community housing provider. The funding will support 316 homes across four projects in Brighton and St Kilda, accommodating people currently on the priority social housing waitlist.
Hall & Wilcox Partner Nick Slack and Lawyer Arin Harman worked on the deal, advising HousingFirst in documenting all of the finance documents associated with the NHIF funding.
Nick Slack said, ‘We are delighted to continue to advise HousingFirst in connection with its expanding relationship with NHFIC. The NHIF’s concessional loans and grant funding for new and upgraded infrastructure such as roads, water, sewerage, electrical, communications and remediation only serves to enhance the vital work that HousingFirst does across Melbourne. It’s particularly important to note, given that we’ve just celebrated International Women’s Day, that the projects which this round of funding will go to, accommodate mostly women over the age of 55.’
Hall & Wilcox is a leading independent Australian law firm of around 750 people including over 90 partners, delivering outstanding legal services to corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia. The Hall & Wilcox Social & Affordable Housing team has acted for state and local governments, public and private companies and not-for-profit organisations nationally. Our experience includes advising on planning, procurement and development, due diligence, property transactions, construction, fund establishment and management, tax requirements and transaction finance.
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