Affordable Housing Strategy
Sealark is contributing affordable housing in NSW
Sealark’s purpose is to create communities that offer people housing choices in a way that benefits the local environment and promotes the Shoalhaven region’s future prosperity. The provision of affordable housing is a core part of the communities we develop.
Our current major property developments, including the West Culburra and Callala Bay developments, will integrate approximately 40 affordable homes each for key workers and people in need in the Shoalhaven region.
In December 2023, Sealark formally adopted an independently-prepared Affordable Housing Strategy for the new development at West Culburra, guaranteeing the delivery of a minimum of 40 affordable dwellings in the community and committing Sealark to a range of initiatives to make a meaningful contribution to the supply of affordable housing in the region.
The strategy aligns with the statutory definition of “affordable housing” and will contribute to the Shoalhaven City Council Affordable Housing Strategy 2018. It involved collaboration with members of Shoalhaven City Council, including Council staff and elected representatives, while a local Community Housing Provider was also part of the consultation team.
It is anticipated a similar strategy will be adopted for the Callala Bay development in due course.
Our Approach
What is affordable housing in NSW?
Affordable housing is housing that is appropriate for the needs of a range of very low to moderate income households and priced so that these households are also able to meet other basic living costs such as food, clothing, transport, medical care and education.
As a rule of thumb, housing is usually considered affordable if it costs less than 30% of gross household income. Affordable rental housing is usually managed by not-for-profit Community Housing Providers.
Why does Shoalhaven need affordable housing?
There is a significant lack of affordable housing options in the Shoalhaven region and while Sealark’s West Culburra and Callala Bay property developments alone won’t fill the shortfall, Sealark is committed to playing its part.
Sealark is not an affordable housing provider, so we partner with experts who are.
At West Culburra and Callala Bay, we will partner with a tier-1 Community Housing Provider to manage the affordable housing in each development.
At no cost, we will donate sufficient land to the Community Housing Provider to allow the delivery of approximately 40 dwellings in each development. The Community Housing Provider will then design, construct, tenant and manage the homes as affordable dwellings for the long term.
This means approximately 10% of the dwellings we create at West Culburra and Callala Bay will comprise affordable housing.
We will support our Community Housing Provider partner through the design and construction process to ensure the future residents of our communities enjoy comfort, security and a great lifestyle.