The City of Sydney has again subsidised a land sale so more affordable housing can be built.
The surplus land at Green Square has been sold at a discount to St George Community Housing, which is expected to build just over 80 social and affordable housing units, as well as provide ground floor retail.
The sale of the southern section of 338 Botany Road follows an earlier deal with City West Housing to build 200 social and affordable units on the northern section of the site.
Together, the two land deals represent a $5 million discount on market value.
The council also previously sold land in Redfern at a discount to SGCH to build 130-150 social and affordable housing units.
All up, the council has now provided close to $20 million in subsidised land sales for affordable housing.
“Cost of housing across metropolitan Sydney is at crisis point and we are committed to tackling it using every mechanism available to us,” Lord mayor Clover Moore said.
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