Exclusive: Minister says providing incentives to developers to convert surplus commercial space presents a ‘good opportunity’ for the state
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While developers would typically redevelop an office for higher-end residential tenants, providing more low-cost options would require government support, according to Robert Pradolin, the founder and director of“It’s a bit of a furphy to say we can just develop these office buildings into social housing because the highest and best use is probably a commercial apartment or boutique office,” Pradolin said.
He said local and state governments would need to actively support office conversions through fast-track approvals, in public-private deals that could include setting aside a portion of the new apartments for subsidised rents.Jackson said incentives for developers would “absolutely” be looked at, as well as the realities of converting spaces designed for work into homes for our most vulnerable, including challenges of light, plumbing, green spaces and balconies.
“We are keen to work with people who want to have an opportunity to say, ‘Hey, I’ve got a building here. It’s not being used. Here’s what an incentive could look like and I could deliver this housing’.”David Gruen, agency head of the Australian Bureau of Statistics, said economic forces may start to push office owners to cater for the residential market.
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