NRAS is designed to stimulate the supply of new affordable rental dwellings. These dwellings will be rented to eligible applicants at a rate at least 20% below the prevailing market rate.
Under Round 4 of the NRAS program, Housing Plus successfully applied to develop 53 units of affordable housing. These dwellings, which were build duirng 2014-2015 are spread throughout the Housing Plus areas of operation as follows:
- Orange: 10 One bedroom units, 10 Two bedroom units & 1 Four bedroom house.
- Mudgee: 10 One bedroom units & 10 Two bedroom units .
- Bathurst: 5 One bedroom units, 5 Two bedroom units & 2 Four bedroom house.
A large percentage of this project is funded by borrowing against the value of the properties Housing Plus owns.