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Affordable housing project gains momentum
Global law firm King & Wood Mallesons has advised a consortium in relation to the design, construction, operations and financing of a Victorian-based affordable housing project.
Emma Musgrave
Firm: King & Wood Mallesons (Victorian Building Communities consortium).
Deal: KWM has acted as legal counsel on the Building Communities consortium’s successful bid for the design, construction, operations and financing of Homes Victoria’s Ground Lease Model Project.
Value: Undisclosed.
Area: Projects, finance.
Key players: The cross-practice KWM team was led by partners Jeff Clark, Tim Ma and Simone Menz, with assistance from senior associates Charles Westh and Stuart Alexander, and solicitor Georgia Mullins.
Deal significance: Homes Victoria’s Ground Lease Model Project is a public-private partnership.
The project is scheduled for completion in early 2024 and is on track to deliver 619 new social housing, 126 affordable housing and 365 market rental dwellings across three sites in Brighton, Flemington and Prahran.
The new housing will be delivered under an innovative ground lease model in partnership with Homes Victoria with the project expected to create an estimated 4,500 jobs, the statement from KWM noted.
“We are grateful for the opportunity to work with the Building Communities consortium on their successful bid to redevelop the Brighton, Flemington and Prahran sites,” lead partner Mr Clark added.
“The innovative model developed with Homes Victoria will deliver a significant number of new social housing and affordable housing dwellings in combination with new market rental dwellings and address the critical housing needs within the local communities.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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