The Minns government has revised its plans to redevelop the Riverwood public housing estate near Bankstown, blaming market forces.
The Minns government has been accused of “land banking” after it blamed market conditions, construction costs and infrastructure concerns for its decision to drastically scale back plans to redevelop an ageing public housing estate.
In 2022, the state-owned Land and Housing Corporation announced plans to replace 1019 social housing dwellings at Riverwood, on the T3 line near Bankstown, with 3900 new homes, in a 30/70 public-private split. Accompanying documents said the decision to reduce the project’s scope dramatically from 3900 homes to 414 was because of “changes to market conditions, including increases in construction costs and uncertainty around infrastructure delivery”.
In Riverwood in October, Premier Chris Minns and Prime Minister Anthony Albanese launched the Social Housing Accelerator – a $2 billion Commonwealth fund, of which NSW gets $610 million. The leaders announced a project to convert three old homes into 11 new dwellings. “We need the Commonwealth to come to the table,” she said, reiterating the NSW government’s calls for a “fairer” carve-up of billions in GST revenue.
The United Workers Union, Rail, Tram & Bus Union and National Tertiary Education Union were among signatories to a letter to Minns this month – organised by the Sydney Alliance – calling on the government to finalise its election commitment that all housing built on public land should be at least 30 per cent social and affordable housing.
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