Centuria completes four affordable housing complexes

The West Gosford complex is worth $22.5m.

Centuria Capital Group has completed four Central Coast affordable housing complexes.

The developments contain a total of 190 dwellings – a mix of one, two and three bedrooms.

They will now be offered to eligible residents, including nurses, teachers, police, firefighters and ambulance personnel.

The buildings also contain social housing – which will be occupied by low income earners.

“In 2018/9, Centuria recognised the significant and growing shortfall in social affordable housing stock and the need to partner with Community Housing Providers to bring purpose-built dwellings to the market,” the developer’s Head of Development, Andre Bali, said.

Its buildings, he added, “are sustainable and desirable including features such as solar panels, rooftop gardens and rooms that capitalise on ocean views”.

Completed in partnership with Compass Housing Services, the projects are part of the NSW Social and Affordable Housing Fund.

Centuria sourced the sites and provided development funding (story continues below).

Buildings worth $72m

Two of the affordable housing investments are in Newcastle, including 318 Maitland Road, Maitland (pictured, top), which contains 36 dwellings, two commercial tenancies and 42 car parks.

Its end value, Centuria said, is $15.6m.

About 30 kilometres away, a $16.8m facility, 45 Pendlebury Rd, Cardiff, contains 60 dwellings.

At North Gosford, a complex with 38 units, 357-359 Mann Street, is worth $17.3m.

A West Gosford asset, 23-25 Young St, with 56 residences, is priced at $22.5m.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.