Executives holding the purse strings in the $3.3 trillion superannuation sector say they would fund housing affordability projects, but only if they stack up on pure investment grounds.
was also keen to increase its allocation to social and affordable housing, but preferred investing in existing assets rather than greenfield projects, which come with construction risk.Advertisement
Mr Patrick said the fund invested in apartment complexes with long-term tenants in the United States, but he said this asset class was “underdeveloped” locally. Mr Patrick said risk-sharing arrangements through the development phase would make greenfields infrastructure and residential real estate projects more attractive asset classes.HESTA chief executive Debby Blakey said Australia’s superannuation system should be focused on achieving strong, long-term returns for members, but this was not inconsistent with investing in nation building projects.
She said HESTA invested in social and affordable housing, but the federal and state governments needed to remove barriers preventing investment at scale.
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