Junction and Conscious Investment Management Partner to Deliver Affordable Housing in Adelaide, South Australia under the Housing Australia Future Fund

Housing Australia, leading South Australian community housing provider Junction and Conscious Investment Management (CIM) have partnered to deliver 40 affordable dwellings in Adelaide, South Australia, as part of the Funding Round 1 of the Housing Australia Future Fund (HAFF). The homes will help increase the supply of long-term, secure affordable housing in South Australia and form part of CIM's second project alongside Junction supported by through the HAFF.

The project is being financed through a combination of capital from Junction, CIM's managed funds and investment from the Australian Government through the HAFF. Junction is managing the development and will own and operate the homes post-completion. CIM has structured its financing such that Junction retains ownership of the properties at the end of the 25-year availability term, supporting affordable housing outcomes into the long term.

Located approximately 7km north-west of the Adelaide CBD, the project will comprise 30 apartments and 10 townhouses. With Woodville Railway Station, the Queen Elizabeth Hospital, schools, shops and open space nearby, the development will place residents close to public transport, employment and essential services.

The St Clair development comes at a time of significant need in South Australia. The state is experiencing long waitlists for secure housing and, in St Clair specifically, median unit rents have risen ~10.0% over the past year. The homes developed for this project are intended to help address this pressure for singles and couples, particularly frontline workers, who are being priced out of the area.

Junction is an established Tier 1 community housing provider, managing approximately 2,500 properties that house around 4,500 South Australians. The organisation provides housing for vulnerable people of all ages, demographics, ethnicities and backgrounds who are otherwise finding it difficult to access sustainable, affordable housing in safe communities.

"As housing becomes increasingly unaffordable for many South Australians, developments like St Clair are creating opportunities for people to find stability and plan for their futures. Increasing the supply of affordable housing is vital, but the long-term housing security these homes provide is what truly changes lives. We're incredibly grateful to partners like CIM, whose support enables us to continue delivering high-quality housing in great locations," said Maria Palumbo, CEO of Junction.

Housing Australia Acting CEO, Sarah Amos said, "Increasing the supply of affordable housing requires investment, partnership and a shared commitment to delivery. This project brings those elements together, combining Australian Government investment through the Housing Australia Future Fund (HAFF) with the capability of Junction and Conscious Investment Management to deliver more affordable homes in a high-demand location, helping more South Australians access secure housing and remain connected to the jobs, services and communities that matter most."

"We are pleased to be partnering with Junction on our second HAFF Round One project together. Their deep experience as a Tier 1 community housing provider, combined with a financing structure that supports enduring affordability, will help create lasting social impact for residents and the broader South Australian community." said Laurie Berrange, Director of Conscious Investment Management.