CASE STUDY I DEBT PORTFOLIO MANAGEMENT
Supporting more social and affordable housing supply in NSW regions
Published 6 December 2024
Homes NSW financing facility
Homes NSW (formerly NSW Land and Housing Corporation) is a NSW Government division charged with increasing and managing social, affordable and market housing supply across NSW.
In 2021, the Regional Communities Program was established to support the delivery of new social, affordable and market housing supply in predominantly regional NSW communities that are experiencing significant and increasing housing stress.
Initially, the Program was financed from Homes NSW’s self-funded business model. However, for it to keep up with growing demand, feasibility challenges and the needs across multiple geographic regions, alternative funding sources were required. TCorp was called upon to assist.
How we helped
Working with Homes NSW and NSW Treasury over several months, TCorp helped to deliver a $70mn financing facility to fund eight initial regional housing supply projects, with capacity to generate around 1,281 new dwellings across NSW.
The financing facility consists of a diversified maturity debt portfolio that minimises refinancing risk, while allowing flexibility to adjust to changes in market conditions and funding requirements. TCorp considered the timing of Homes NSW’s funding requirements, its future cashflows and the debt management approach put in place to ensure the debt portfolio is managed in accordance with Homes NSW’s needs.
Client feedback
“TCorp has been great to work with. They are highly responsive and collaborated closely with Homes NSW to tailor a bespoke funding solution that sets the Regional Communities Program up for success.”
Glyn Richards
Director, Regional Communities, Homes NSW
About Homes NSW
Homes NSW was originally established in 1942 under the name of NSW Housing Commission. Initially, it provided a pathway to home ownership for working families and returned services personnel.
Today, the remit of Homes NSW centres on providing housing as a safety net for people who cannot afford to house themselves. The high demand for social, crisis, transitional and affordable housing, continues to outstrip supply, right across NSW.
Each project in the Regional Communities Housing Program incorporates an appropriate mix of diverse housing to suit current market conditions, while at a minimum delivering 30% of the future project as social and affordable dwellings.
The Program collaborates across agencies within the NSW Government, local councils, NSW Aboriginal Land Council, local Aboriginal land councils and community housing providers. It uses this collective partnership to increase and accelerate a sustainable supply of diverse housing outcomes.
This work across NSW has benefits beyond the housing delivered, by creating local jobs and stimulating local economies.
For further information
Jennifer Roberts
Co-Head of Client Relationships,
Financial Markets
Yvonne Blunt
Co-Head of Client Relationships,
Financial Markets