Elevate is owned and managed by Foundation Housing and offers well located, quality and affordable accommodation.
The Elevate apartments and townhouses are located in a number of desirable areas both north and south of the river. They offer great amenities, the latest in quality finishes and access to a great lifestyle.
Keyworkers (Healthcare, Emergency Services, Education, Childcare, Not-for-profit, Retail, Transportation and Local Government) and applications with a household income (pre-tax) between $50,000-$114,000 per annum are prioritised.
To be eligible, applicants must have maximum household income between $50K and $114k per annum. Tenants will pay no more than 30% of their household income in rent, which will be capped at 75% of market rent. The proximity of their applicant’s employment will also be considered in the process. Key requirements include:
Click here to complete an expression of interest to lease through our Elevate affordable housing program.
The Elevate program aims to provide affordable housing for key workers (or others) on moderate incomes. Affordability is achieved in two ways:
For example, where a property has a market rent of $500 per week, the Elevate rent would be 75% of this = $375 per week. To ensure that the tenant pays no more than 30% of their gross income in rent, the minimum income required for a tenant to rent that property would be $65,000 per annum.
We currently have no vacancies under Elevate.
Elevate by Foundation Housing has been developed without any subsidy. Using low-cost finance offered by National Housing Finance and Investment Corporation (NHFIC), Foundation Housing purchased just over 100 apartments from a number of different WA developers.
“This is a new and exciting model of social housing enterprise not previously used in Australia. Foundation Housing is very excited to show how this funding model can work, at no cost to the taxpayer, while generating great outcomes for a community that needs more affordable housing options.
“By supporting WA’s essential workers with affordable housing, we are providing homes for people in need and supporting those who enrich our community,” says CEO, Chris Smith.
Foundation Housing housed frontline worker Jake in early 2021 after he went through months of rental stress to find an affordable place to live.
“I visited about four or five rentals and I wasn’t even a consideration because people were walking through the door and saying ‘can we offer more’. I didn’t know what to do to have a fighting chance,” says Jake.
Read the full article here.