Affordable housing for some of Australia’s most self-less professions

First State Super is continuing to support healthcare and education workers, as well as first responders, by investing in key worker affordable housing.

As one of Australia’s largest superannuation funds we are committed to delivering the best possible long-term sustainable returns for our members. We are also determined to be a force for good in our community, by investing in projects and businesses that are sustainable, create jobs, foster innovation and contribute to the communities where our members live, work and retire.

One of our most recent investments, key worker rental accommodation in Moonee Ponds, not only delivers strong long-term returns for members, but provides affordable housing for some of Australia’s most self-less workers.

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One of the most common discussion points of our employer, union and association contacts is the lack of affordable housing for their employees. In some cases, this makes recruitment difficult for education and healthcare institutions, as potential employees choose to apply to workplaces closer to where they can afford to live.

Employers have consistently told us that affordable housing is an issue for their employees (our members). Some even lose staff because they simply cannot afford to live nearby, and this is a problem that needs addressing

– Deanne Stewart, First State Super CEO

The key worker accommodation in Moonee Ponds provides high-quality apartments to eligible key workers at 80% of the market rate for the area. 

Moonee Ponds is located within close proximity to the Melbourne CBD and is home to the thriving retail and restaurant centre of Puckle Street. These modern, light-filled apartments are approximately a 4-minute walk from Moonee Ponds train station and within close proximity to tram and bus connections.

Eligible workers include people who are employed in essential frontline services such as (but not limited to) registered nurses, enrolled and mothercraft nurses, teachers including early childhood, primary, secondary and special needs teachers, ambulance officers and paramedics, fire and emergency service workers and police. Applicants who are identified to have a support role (or are training to work in) the above sectors will also be considered. 

To be eligible, workers must earn under a certain threshold, not own a home that could solve their accommodation issue and be employed under the ‘key worker definition’, more information can be found at www.echorealty.com.au

Providing affordable housing for key workers across the healthcare, education and first responder professions will mean a better quality of life for these workers and better service for the community.

Being a force for good does not have to come at the expense of strong returns for members and as a member of the UN GISD Alliance First State Super is committed to proving that.