Modelling the effects of affordable housing 'sticks' and 'carrots' for developer-delivered projects
Georgia Warren-Myers, Erryn McRae, Katrina Raynor, Matthew Palm
PACIFIC RIM PROPERTY RESEARCH JOURNAL | ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD | Published : 2019
The literature suggests both “Stick” and “Carrot” initiatives can encourage property developers to include Affordable Housing in their developments. Such initiatives include affordable housing contributions or requirements (the stick) and land cost subsidies, density bonuses, access to low-interest finance, reduced planning timeframes and reduced car parking requirements (the carrots). Despite their widespread application internationally, Australian developers and policymakers have resisted affordable housing incentive structures. Recent legislation in Victoria empowers local planners to approve affordable housing contributions and incentives on a case-by-case basis. This paper provides a ..View full abstract
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The authors would like to acknowledge the Transforming Housing Research Network for generously supporting this research. Transforming Housing is funded by the Melbourne School of Design, The Lord Mayors Charitable Foundation, Launch Housing and the Brotherhood of St Laurence. In addition, the authors would like to acknowledge the assistance provided by industry developers, consultants and professionals who assisted in providing costing advice and industry perspectives, and the team at Estate Master who provided modelling software and feedback on the analysis.